capital gain on transfer
This query is : Resolved
28 November 2008
Hi dear all,
One of my client's grand parents has Diamond and gold jewellery worth Rs.30,00,000. So if they sell and transfer the proceds in my client's account, then what will be the treatment of capital gain? These jewellery has been purchased before 1980. What if, he receive after death of his grandparents?
Thank you.
One of my client's grand parents has Diamond and gold jewellery worth Rs.30,00,000. So if they sell and transfer the proceds in my client's account, then what will be the treatment of capital gain? These jewellery has been purchased before 1980. What if, he receive after death of his grandparents?
Thank you.
28 November 2008
Giving capita assets to own childrens does not attract Capital Gain Tax.
But please remember when your client sold these then purchase price and date of purchase with original buyer (Yours client's parents) will be taken into consideration.
But please remember when your client sold these then purchase price and date of purchase with original buyer (Yours client's parents) will be taken into consideration.
29 November 2008
thank u.
but what if he receives as succeder of the asseset after death of grand parents?
but what if he receives as succeder of the asseset after death of grand parents?
29 November 2008
Nothing changed. Situation will be same.
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
- House Property Reporting in ITR
- TDS Claim year
- TDS Challan Code
- Relief u/s Section 89
- Rent lease agreement
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- CCFS 2026 Schemed
- Entries in AIS regarding sale of units and shares
- Merchant Export Accounting
- Lease agreement and tax on sale
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
