banner_ad

Capital gain taxability

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 February 2013 An widow and her daughters family thrives on pension income only, which is below basic exemption limit.Say 1.2 lakhs. Now they want to sell either 1. House 2. Jewelery 3. shares Assuming the amount to be 6 lakhs. What would be their capital gain tax liability?? How they can avoid the same.. Please help!!
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
11 February 2013 If the shares are held for more than 1 year-
sell them first as such Capital gain is treated as LTCG and is exempt from Capital Gain Tax.
.
I do not advise to sell House as in the old age the widow will require a Shade on her head. Similarly jewellery will be required on her daughter's marriage.
.
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
11 February 2013 Dear Abhijat,

The taxability shall depend on the cost of the asset to be sold, the period of holding, ownership of the asset (whether held separately or jointly).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details