banner_ad

Sale of residential house and re-investment

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 April 2014 My query is as follows

An individual named Mr. A had invested 1 crore in a residential house in 2008 and the agreement was made in his name. However the amount was contributed by his other friends also but their name was not mentioned in the agreement. The share was as follows:-
Mr. A - 40%
Mr. B - 30%
Mr. C - 30%
The amount was contributed by his 2 friends in the above ratios to Mr. A who in turn paid it to the builder

The property was eventually sold in 2013 for 2 crores and amount was received by Mr. A. and he gave his 2 friends their share.

Now what will be the calculation of capital gains tax? Will it be taxable only in the hands of Mr. A or it will be taxable in the hands of his other friends too?
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
15 April 2014 well on paper the whole of capital gains shall be liable against A.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details