Capital gain on house property received as gift
This query is : Resolved
CA Gangadhar Mishra
(Querist)
11 July 2009
A married women received a house property(consists of GF, FF SF & TF)as gift from her mother in 1981, the mother expired on 2002. in nov.2008 the TF was sold for RS.11 lacs. now the query is :
1) how much is the capital gain
2)COA as on nov,2008
3)if the gift is not made on 1981 but the amount was recd. by the women on her mother's behalf as a legal heir
4) if any best option available to minimise the CG tax.
Very urgent.
1) how much is the capital gain
2)COA as on nov,2008
3)if the gift is not made on 1981 but the amount was recd. by the women on her mother's behalf as a legal heir
4) if any best option available to minimise the CG tax.
Very urgent.
CA Tilak Raj Sharma
(Expert)
11 July 2009
COA - will be cost in hand of previous owner + Indexation.
Saving of CG - Invest the money for the purchase of another house property u/s 54 or Invest in the Bonds of NHAI or RECI u/s 54EC.
Saving of CG - Invest the money for the purchase of another house property u/s 54 or Invest in the Bonds of NHAI or RECI u/s 54EC.
CA Gangadhar Mishra
(Querist)
13 July 2009
Dear Tilakraj
you have given a general answer to all the questions except sn.03
you have given a general answer to all the questions except sn.03
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