Kindly solve my capital gain query
This query is : Resolved
15 August 2011
Father transfers a hefty sum around Rs.22,00,000/- to his son's A/c. Son utilses the same for investment in shares. During F.Y:2010-11 he sold certain shares and had Short Term Capital Gain on it.
Will this STCG be son's income (Investment in Shares are made by son and he is the holder of shares) or Father's income? (As son utilised the funds, his father transferred to his A/c)
Thanks in Advance....
Reagrs,
CA Student.
Will this STCG be son's income (Investment in Shares are made by son and he is the holder of shares) or Father's income? (As son utilised the funds, his father transferred to his A/c)
Thanks in Advance....
Reagrs,
CA Student.
15 August 2011
-Since the son is not a minor, Income is not clubbed with father.
Father can give either loan or gift to his dear son.
(Who else will use father's money except his son?)
Father can give either loan or gift to his dear son.
(Who else will use father's money except his son?)
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