24 January 2020
Sir, I am selling a plot . The LTCG is roughly 70 lac. I am going to pay the requisite capital gains, .what ever balance amount - can I send it to my son who is in the USA ( he stays there for the past 10 yrs )
05 July 2020
SIR, this lad sold was total 88 cents. I had power ( not title ) for 50 cents & my wife had clear title for 38 cents . The purchaser a single person showed the total value as 119 lac - paid 1 % ie - 1.19 lac TDS IN my name .Paid me 78.81 lac . Paid my wife 39 lac. Thuse for me -- 78,81 +1.19=80 lac +wife - 39 lac. Now I have paid the capital gains for my amount after indexing, after appropriating brokerage . so also for my wife.
Now how do I fill. LTCG.There is a provision for joint buyer , but is there a provision for joint seller?.
06 July 2020
Provision available for joint seller. Capital gains tax has to be paid independently for their portion. You are a power of attorney holder of non resident. 20% TDS applicable on entire sale consideration of non resident seller.
CAclubindia
