Agreement to sell is in place for a particular property. Seller and the buyer as per agreement decide and agree to sell the property to a third party and share the proceeds equally. What will be the tax liablity for both of them and how it can be minimised.
Menu
Capital gains for property sold under agreement to sell
Replies (1)
Generally treated as business venture....... but if original price is fixed, it may be assessed as capital gains for original owner.
Recent Topics :
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
- Query – Interest on Capital Received by Part
- Query - Section 164(2)(a) – Interpretation o
- Submission for Expert Opinion on Rectification of
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
- Wrong date of invoice
- Paper 6 - IBS
Related Topics :
CAclubindia
