Tax or exemption on capital gain
This query is : Resolved
06 August 2016
Dear Sir My Question Is :
Mr X transfer his right between his wife and his 3 sons, on 2008-09 after the death of Mr. X. at the time selling of HP in 2015-16 profit distributed amongst 4 members equally which is 34 lac each member, and hence 3 sons purchase new house with d same amount and mother distributed their profit between 3 sons and their 3 sons treated his mother in their agreement as a co-owner . so plz guid me correct answer.
Mr X transfer his right between his wife and his 3 sons, on 2008-09 after the death of Mr. X. at the time selling of HP in 2015-16 profit distributed amongst 4 members equally which is 34 lac each member, and hence 3 sons purchase new house with d same amount and mother distributed their profit between 3 sons and their 3 sons treated his mother in their agreement as a co-owner . so plz guid me correct answer.
Soumitra Basu
(Expert)
07 August 2016
SINCE ALL THE MEMBERS OF THE FAMILY HAVE INVESTED FOR RESIDENTIAL BUILDING THERE WILL BE NO CAPITAL GAIN TAX
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