Capital gain
This query is : Resolved
15 November 2011
There are some inherited property but has not yet transferred and registered in the respective family members.
Proprty : some lands
family members : 4
Case : 1 member is selling some portion of the land to a third party for certain value and the purchaser wants to give some amount to other 3 members so that they do not object in future wrt this deal.
In the hands of other 3 members will it be capital gain or not ? and if so how this is to be dealt in
Proprty : some lands
family members : 4
Case : 1 member is selling some portion of the land to a third party for certain value and the purchaser wants to give some amount to other 3 members so that they do not object in future wrt this deal.
In the hands of other 3 members will it be capital gain or not ? and if so how this is to be dealt in
15 November 2011
Dear Author,
if the family members have undivided share in the property then they all are the owners of the portion of the land to be sold, hence capital gain shall attract.
For computation of cap gain, the respective share of each member, sale consideration etc to be observed.
btw it is advisable to get property registered in the family member's name.
if the family members have undivided share in the property then they all are the owners of the portion of the land to be sold, hence capital gain shall attract.
For computation of cap gain, the respective share of each member, sale consideration etc to be observed.
btw it is advisable to get property registered in the family member's name.
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
