Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2013
Mrs A has a independendant house(bought in 1978) which she entered into development agreement in 2007 for which she got 5 flats out of 10 built but no monetary consideration in 2009 as per agreed by the builder but in the same year she gifted 3 flats to her sons.
now deemed capital gains is exempted under sec 54 of CIT Vs Gita Duggal(2013) but is the exemption cancelled when she gits the hoouse within 3 yrs and does it fall under the definition transfer 2(47) of the act(Develoment agreement contains the name of her 3 sons). Please Help
now deemed capital gains is exempted under sec 54 of CIT Vs Gita Duggal(2013) but is the exemption cancelled when she gits the hoouse within 3 yrs and does it fall under the definition transfer 2(47) of the act(Develoment agreement contains the name of her 3 sons). Please Help
09 June 2013
1.if building(old) was demolished by builder and consideration fixed for land portion only, then it is trf of land and 54F is applicable and not section 54.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- LTCG for Assmt year 26-27
- TDS related Query_Liquidated Damages
- NON- SUBMISSION OF LLP FORM 3
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
