Dear Experts,
I am a salaried person working in private company. I have 3 queries-
1. My father brought a house in 1992 and we sold the same as plot after demolishing the house in 2023.
Which Fair Market Value to consider for indexation calculation i.e. of Plot we sold or the house father purchased.
2. Also, I am getting rent from my another inherited property(100% share), the property is of commercial use.
While filing the ITR2, whether the rent is to be shown as house property (section Schedule HP) or any other section being rent from commercial property
3. Can i transfer online Rs. 5 lack each to my wife and daughter for some investments they want to do. How this will be treated by Law, it is transfer not gift? I I take 4%/annum interest from both will it work? Also, do i need to maintain some books for these purpose.
Please help me
Thanking you in advance
CAclubindia
