Capital Gain Tax
This query is : Resolved
divya khanna
(Querist)
03 June 2011
What is procedure to know the Fair Market Value as on 1st April'1981?
If Bonds under section 54EC be purchased in Joint Name and is it taxable on Maturity?
what kind of evidences are required for taking the deduction of cost of Improvement for Capital Gain Tax?
If Bonds under section 54EC be purchased in Joint Name and is it taxable on Maturity?
what kind of evidences are required for taking the deduction of cost of Improvement for Capital Gain Tax?
CA MANOJ GUPTA
(Expert)
03 June 2011
1. FOR DETERMINING FMV ON 1-4-1981 TAKE HELP OF A REGISTERED VALUER
2. TAXABILITY WILL BE OF INTEREST
IT WILL BE TAXABLE
IN A RECENT CASE RELATED TO SECTION 54EC IT HAS BEEN HELD THAT FOR ALL PURPOSES THE FIRST HOLDER IS THE OWNER AND second holdre has no owneship rights in view of that case intt will be taxed in hands of first holder only
3. u will have to proive it by documentary evidence
CA MANOJ GUPTA
JODHPUR
09828510543
2. TAXABILITY WILL BE OF INTEREST
IT WILL BE TAXABLE
IN A RECENT CASE RELATED TO SECTION 54EC IT HAS BEEN HELD THAT FOR ALL PURPOSES THE FIRST HOLDER IS THE OWNER AND second holdre has no owneship rights in view of that case intt will be taxed in hands of first holder only
3. u will have to proive it by documentary evidence
CA MANOJ GUPTA
JODHPUR
09828510543
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