Incometax
This query is : Resolved
KIRAN PAILKAR
(Querist)
30 March 2015
Dear All Expert
I have one client, he had sold parent's residential property in 2009-10 and invested in Fixed Deposit. I wanted to know can he liable to pay tax. if liable to pay tax then what is percentage.
Please suggest me
I have one client, he had sold parent's residential property in 2009-10 and invested in Fixed Deposit. I wanted to know can he liable to pay tax. if liable to pay tax then what is percentage.
Please suggest me
30 March 2015
then in such case no deduction shall be allowed as investing in fixed deposit shall not allow exemption from capital gains applicable.
you have not mentined that it was a long term or short term capital asset before selling them.
you have not mentined that it was a long term or short term capital asset before selling them.
KIRAN PAILKAR
(Querist)
30 March 2015
Sir
Actually what happened parent has been Died. and his property sold out and amount distributed their children . and it is long term capital gain
Actually what happened parent has been Died. and his property sold out and amount distributed their children . and it is long term capital gain
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