HI
IN 1950 SOMEONE'S FATHER GOT A LEASE HOLD LAND ON HIS NAME,HE CONSTRUCTED.THEN IN 2004 IT GET CONVERTED INTO FREEHOLD ON HIS SON'S NAME. THE FATHER DIED IN 2008. WHAT CAPITAL GAIN TAX IF PROPOSED TO SELL IN 2009? IF VALUES ARE
ON 1981-1LAC
ON 2004-4 LAC
ON 2009-15 LAC(PROPOSED TO SELL)
HOW CAN C.G BE AVOIDED?
SOME CLUES- BACK DATE REGISTRATION,BACK DATE GIFT(THEN WHAT ABOUT GIFT TAX)
ALSO TELL ANY OTHER C.G OR PENALTY AS TRANSFERED ON SON'S NAME WITHOUT TAX?
TELL ME GUYS ,REALLY INTERESTING
CAclubindia
