L t c g on jointly held agricultral land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 November 2012
A jointly held agricultural land was sold by 3 Brothers Mr. A,B & C for Rs 90 Lac.
Actully they should have got Rs 30 lac each, but due to there mutual settlement Mr A got Rs 40 Lac and the remaining 2 brothers got Rs 25 lac each.
Now my questions is : -How to calculate L T C G for all three brothers.
Facts :- F M V of land in 1981 = Rs 20000/-
Date of Sale = Nov 2012
Actully they should have got Rs 30 lac each, but due to there mutual settlement Mr A got Rs 40 Lac and the remaining 2 brothers got Rs 25 lac each.
Now my questions is : -How to calculate L T C G for all three brothers.
Facts :- F M V of land in 1981 = Rs 20000/-
Date of Sale = Nov 2012
Amol S Joglekar
(Expert)
29 November 2012
The sale deed / agreement to sale is important. The wordings in the recital of the said sale deed/ agreement shall decide the ratio decidendi.
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