Regarding capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2013
A & B had purchased a flat jointly having equal share. They sell this flat at Rs.50 lacs in the current year. They both individually purchase a flat in the same year. Whether capital gains arising u/s 54 on them will be shared among the assesses?
I will be highly obliged if you provide me with a case study.
I will be highly obliged if you provide me with a case study.
15 November 2013
dear friend,
each one, A and B shall be in receipt of consideration equivalent to Rs 25 lakhs and shall be eligible to claim exemption under 54 when they invest in residential property individually or together.
So you need not worry and claim exemption under 54 for both A and B.
each one, A and B shall be in receipt of consideration equivalent to Rs 25 lakhs and shall be eligible to claim exemption under 54 when they invest in residential property individually or together.
So you need not worry and claim exemption under 54 for both A and B.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ITR 4 and Bank transactions
- Journal entry of busniess expenses
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
