Clubbing of long term capital gain
This query is : Resolved
11 February 2018
DO CLUBBING PROVISIONS APPLY IN THE CASE OF LONG TERM GAINS FROM IMMOVEABLE PROPERTY?
An immoveable property was purchased by A (husband) on April 1, 1999, for Rs. 5 lakh and was gifted to his wife B on October1, 2010..The gifted property was sold by B (wife) on April 1, 2017 for Rs. 55 lakh. The long term capital gain on this property after indexation amounted to Rs. 30 lakh. Please advice who will charged to tax whether A (husband) or B (wife) on such long term Capital gain of Rs. 30 lakh
An immoveable property was purchased by A (husband) on April 1, 1999, for Rs. 5 lakh and was gifted to his wife B on October1, 2010..The gifted property was sold by B (wife) on April 1, 2017 for Rs. 55 lakh. The long term capital gain on this property after indexation amounted to Rs. 30 lakh. Please advice who will charged to tax whether A (husband) or B (wife) on such long term Capital gain of Rs. 30 lakh
12 February 2018
if the property was gifted by husband to wife. then income tax shall be charged in the hands to wife
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
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Itr 1 processing
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
