Long term capital gain
This query is : Resolved
04 September 2012
i want to buy a house property. the proposed seller is not having PAN card and no other income and never filed any returns. now how to deal with this long term capital gain from this house?will she be taxable??
Amol S Joglekar
(Expert)
04 September 2012
Are you also bothered about the CAPITAL GAIN of seller as payment consideration? The gain is taxable subject to however the computation
04 September 2012
sir i am bothered because now the seller is asking for the tax as additional amount other than consideration.
Amol S Joglekar
(Expert)
05 September 2012
This is something in ddition to what was negotiated. You need to handle this carefully as per "doctrine of indoor management". Anyway, as I said the capital gain is taxable in the hands of SELLER, subject to other conditions like cost of acquisition, basic exemption limit, senior citizen etc.
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