capital gain on sale of residential property

This query is : Resolved

sanjay kumar (Querist)
Follow

16 January 2017 we had sold a house which was jointly in the name of my brother, mother and me.plz advise regarding the applicability of capital gain tax. also advise the tax implications if mother had gifted the amount of her share to us.

CA Suresh Jain

CA Suresh Jain (Expert)
Follow

18 January 2017 The Capital Gain shall be calculated in the hands of all three of you as per your share in the property. The Gift of consideration received after the sale is shall have no implication on calculation of the Capital Gain and the Gift is not taxable in the Hands of the Sons

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

BALU RAJADURAI

T.N.Reddy

Shubham Jain

Narendra

Mahasweta Deb

Subscribe Now

capital gain on sale of residential property

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Article Assistant

CA Final

GST CONSULTANT

GST CONSULTANCY