Sale of property & calculation of capital gain
This query is : Open
27 January 2011
A Person has sold his property for Rs. 5 crore which he gets as follow:
some part of property from his mother undre gift &
remaining part of the property is his share obtained by dividing the property in four parts by all the four brothers under mutual consent.
1) Is the partition by mutual consent is valid in our constitution?
2) What will be the cost of property for calcuklating the Capital Gain?
3) What is the treatment of the property which is received as Gift from his mother ?
some part of property from his mother undre gift &
remaining part of the property is his share obtained by dividing the property in four parts by all the four brothers under mutual consent.
1) Is the partition by mutual consent is valid in our constitution?
2) What will be the cost of property for calcuklating the Capital Gain?
3) What is the treatment of the property which is received as Gift from his mother ?
06 February 2011
Hi,
Can u be a bit more specific about the division of Property in terms of %ages each person is eligible for....????
i will be in a better position to answer the same.
Thank you,
CA. Lohith. J
B.Com,ACA,CS,(ICWA),ITF Hons,SAPM Hons
Can u be a bit more specific about the division of Property in terms of %ages each person is eligible for....????
i will be in a better position to answer the same.
Thank you,
CA. Lohith. J
B.Com,ACA,CS,(ICWA),ITF Hons,SAPM Hons
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- New Garden in Place of Old Garden
- Indian IT Portal issue in computing tax as per UK-India DTAA
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
