My father received a lumpsum amount from the sale of a house property. The said house property is inherited. Now he transfer the sale proceeds to me and I will use the same for buying a new property. In this scenario what is the tax treatment?? Should I able to claim deduction u/s 54 or is there any other way to save the tax?? Please help me out with the proper solution
Menu
Exemption of long term capital gain
Replies (1)
You can include your father as co-owner in new property purchase so that LTCG tax liability over your father can be reduced.
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
