Capital Gain Tax
This query is : Resolved
23 October 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.
Please suggest.
13 February 2020
It will be taxed in the hands of your friend. Your internal agreement has got no value per se.
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