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Capital gain- regarding

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Querist : Anonymous

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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.
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CA PARAS BAFNA

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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.
.
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