PROPERTY SOLD IN THE JOINT NAME
This query is : Resolved
19 October 2024
DEAR SIR,
ONE OF MY CLIENT RECEIVED AMOUNT OF PROPERTY SOLD OF HIS HUSBAND FATHER OWNED PROPERTY (1938). AFTER DEATH OF HER FATHER IN LAW THE PROPERTY KHATHA ENDORSED MADE IN THE YEAR OF 4.12.2012.
THE URBAN DEVELOPMENT AUTHORITY HAS ISSUED TITLE DEED/SALE DEED IN FAVOUR OF HIS CHILDERN MY CLIENT HUSBAND DIED MY CLIENT IS SUCCESSOR OF THE HER HUSBAND SHARE HER NAME INCLUDED IN THE TITLE DEED IN THE YEAR OF 2019.
AFTER DEATH OF MY CLIENT HUSBAND BROTHERS THE TITLE DEED MADE IN THE NAMES OF WIFES IN THE YEAR 7.8.2023
THE PROPERTY SOLD OF 1.40 CRORE MY CLIENT RECEIVED HER SHARE OF RS 35 LAKHS.(25%)
HOW TO DETERMINE THE DATE OF ACQUISITION AND DATE OF TRANSFER OF THE PROPERTY
HOW TO CALCULATE THE CAPITAL GAIN.
PLEASE GUIDE ME
REGARDS
ONE OF MY CLIENT RECEIVED AMOUNT OF PROPERTY SOLD OF HIS HUSBAND FATHER OWNED PROPERTY (1938). AFTER DEATH OF HER FATHER IN LAW THE PROPERTY KHATHA ENDORSED MADE IN THE YEAR OF 4.12.2012.
THE URBAN DEVELOPMENT AUTHORITY HAS ISSUED TITLE DEED/SALE DEED IN FAVOUR OF HIS CHILDERN MY CLIENT HUSBAND DIED MY CLIENT IS SUCCESSOR OF THE HER HUSBAND SHARE HER NAME INCLUDED IN THE TITLE DEED IN THE YEAR OF 2019.
AFTER DEATH OF MY CLIENT HUSBAND BROTHERS THE TITLE DEED MADE IN THE NAMES OF WIFES IN THE YEAR 7.8.2023
THE PROPERTY SOLD OF 1.40 CRORE MY CLIENT RECEIVED HER SHARE OF RS 35 LAKHS.(25%)
HOW TO DETERMINE THE DATE OF ACQUISITION AND DATE OF TRANSFER OF THE PROPERTY
HOW TO CALCULATE THE CAPITAL GAIN.
PLEASE GUIDE ME
REGARDS
19 October 2024
Consider the circle rate of the property as on 01.04.2001 as cost of acquisition.
19 October 2024
THANK YOU FOR YOUR QUICK REPLY SIR,
THEN THE DATE OF TRANSFER OF THE PROPERTY TO DETERMINE SHORT TERM OR LONG TERM CAPITAL GAINS
THANK YOU SIR
THEN THE DATE OF TRANSFER OF THE PROPERTY TO DETERMINE SHORT TERM OR LONG TERM CAPITAL GAINS
THANK YOU SIR
19 October 2024
It will be long term as the period of holding includes the holding period of original owners. (their father/ in law)
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