Mr. A is a land owner. Makes an agreement with Mr. B ( land developers) that he will developed the land and all the developing expense shall be borne by Mr. B only and when the plot will be sale the sale proceeds shall se shared between Mr. B (17.5) and grandson and daughter of Mr A in ratio of 16.5 equally between 5 members.
Who will be liable for capital gain? Mr
. A his grandson / daughter?
When will capital gain arise when agreement is made between A and B or in the year when the sale proceeds will be receive after sale of plot?
Menu
Capital gains
Replies (1)
Capital gain will be taxable in hands of Mr. A. and capital gain will taxable in that year , in which sale proceed received.
Recent Topics :
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- 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
Related Topics :
CAclubindia
