Capital gain on sale of jointly owned ancestral property by 2 brothers
and the ways to save this capital gain.
Also in such a case of Inherented property what would be the cost of acquisition?
Menu
Capital Gain
Replies (2)
Quick Summary
Both shall calculate capital gains separately in equal proportion.
Sale consideration shall be divided equally among both.
For cost of acquisition, cost of purchase property of Father or Fair Market Value as on 1.4.2000 shall be considered.
Tax on Capital gain can be saved by investing sale consideration into new residential property or by investing in REC Bonds.
Thanks for the answers dear Calligues...
Recent Topics :
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
Related Topics :
CAclubindia
