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CAPITAL GAIN ISSUE

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(Querist)
24 February 2020 SOME HAS GOT NET AMOUNT OF RS 21 LACS ON ACCOUNT OF SALE OF FLATS AS AGAINST WHICH NO EXPENSE CAN BE CLAIMED. SIMULTANEOUSLY OUT OF 21 LACS THERE ARE SEVEN PARTNERS EACH DRAWING A SHARE OF RS 3 LACS. Now the question arises whether each 3 lacs is shall be taxable or not ?
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Amol S Joglekar

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Amol S Joglekar (Expert)
25 February 2020 you need to work out the capital gain. Also check if indexation is available.
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Eswar Reddy S

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Eswar Reddy S (Expert)
29 February 2020 Check whether it is short term or long term capital gain



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Asha Kanta Sharma

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Asha Kanta Sharma (Expert)
25 May 2020 Income Tax is levied on Capital Gain for respective beneficiary.

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