Portugese civil code..
This query is : Resolved
31 July 2013
1. What is Portuguese civil code?
2. what should be done if a house is sold named after 7 brothers and sisters but only 1 brother lives in it.. the amount is distributed among all..
3. What should e done if we dont know if there has been any expenses on the house mentioned above...
2. what should be done if a house is sold named after 7 brothers and sisters but only 1 brother lives in it.. the amount is distributed among all..
3. What should e done if we dont know if there has been any expenses on the house mentioned above...
31 July 2013
1. Please follow the link and refer Section 5A for Income-Tax Purpose.
http://casansaar.com/articles-detail/What-is-Portuguese-Civil-Code-mentioned-in-Income-Tax-Return/2125.html
.
2. All the siblings or co-owners will proportionately be liable for capital gains, if any.
.
3. If the house is acquired by them or their ancestors prior to 1.4.1981, Fair Market Value as on 1.4.1981 may be considered as cost of acquisition.
.
http://casansaar.com/articles-detail/What-is-Portuguese-Civil-Code-mentioned-in-Income-Tax-Return/2125.html
.
2. All the siblings or co-owners will proportionately be liable for capital gains, if any.
.
3. If the house is acquired by them or their ancestors prior to 1.4.1981, Fair Market Value as on 1.4.1981 may be considered as cost of acquisition.
.
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