capital gain
This query is : Resolved
arunkumargoyal
(Querist)
18 May 2011
A land has been sold by Rs.3400000 in cash.This land is an ancestral . power of attorney has been taken from brothers..
and further being sold.
now the point is that ... capital gain arising from such sale of land... is chargeable in hand of seller... or brothers are going to come under taxability....
and further being sold.
now the point is that ... capital gain arising from such sale of land... is chargeable in hand of seller... or brothers are going to come under taxability....
CA PARAS BAFNA
(Expert)
18 May 2011
Power of Attorney may not necessarily be the owners of the capital asset.
Owners are liable for Capital Gains Tax.
Owners are liable for Capital Gains Tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on reimbursement of expenses
- Query on effect of registration of property
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Foriegn assets disclosure
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Additional trade name
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
