Long Term Capital Gains
This query is : Resolved
16 August 2020
Father invested his own funds in Edelweiss Multi Strategy Funds on 11.01.2017
Above investment is done in his Sons name as beneficiary of proceeds of funds. Son is major and drawing salary income.
Sale proceeds minus investment would amount to Long Term Capital Gains
My question is long term capital gains tax in above case will be paid by father or son ?
Above investment is done in his Sons name as beneficiary of proceeds of funds. Son is major and drawing salary income.
Sale proceeds minus investment would amount to Long Term Capital Gains
My question is long term capital gains tax in above case will be paid by father or son ?
16 August 2020
As son is major he has to pay tax on capital gains.
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