Capital gain- regarding
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 August 2013
Sir/Madam,
My client's father sold an ancestral property
in which my client has undivided equal share and received rs.30 lakhs as his share.
Now tell me what is the treatment of above issue in income tax?
Thanking you.
My client's father sold an ancestral property
in which my client has undivided equal share and received rs.30 lakhs as his share.
Now tell me what is the treatment of above issue in income tax?
Thanking you.
CA PARAS BAFNA
(Expert)
19 August 2013
Ask your friend to transfer his father's file also to your office.
.
Compute Capital gain arisen on the whole of the property and according to the share take proportionate income in your friend's case.
.
.
Compute Capital gain arisen on the whole of the property and according to the share take proportionate income in your friend's case.
.
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