Capital gain tax
This query is : Resolved
30 August 2019
Hi,
me & my friend buy a agri land 5 years ago and land registered on my friend name at that time due to am not in station. recently we sold the same land received the amount but the sale deed executed on my friend name only.
Now my problem is should i can claim the return agri land as a capital gain for MY IT Return. Me and my friend having a internal agreement (MOU) saying that both are having right on that land.
Please suggest.
me & my friend buy a agri land 5 years ago and land registered on my friend name at that time due to am not in station. recently we sold the same land received the amount but the sale deed executed on my friend name only.
Now my problem is should i can claim the return agri land as a capital gain for MY IT Return. Me and my friend having a internal agreement (MOU) saying that both are having right on that land.
Please suggest.
Amol S Joglekar
(Expert)
30 August 2019
No. You can not do it. It is regarded as BENAMI transaction
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