income from house property

SENIOR ARTICLE ASSISTANT

53 Points Posted on 17 December 2010

if there is a property which is co-owned. if 1 co-owner transfered his share to another co-owner then what will be the tax treatment?????

Replies (2)

Chartered Accountant

11622 Points Posted on 17 December 2010

TAXABLE IN THE HANDS OF TRANSFEROR.
THE TRANSFEREE IF HE HAS SOME LTCG , THEN HE CAN CLAIM EXEMPTION U/S 54, AS PURCHASE OF PROPERTY FROM CO- OWNER IS ALSO ELIGIBLE SUBJECT TO OTHER CONDITION AS SPECIFIED IN SEC. 54 .

Posted on 17 December 2010

Originally posted by : Manmohan
	TAXABLE IN THE HANDS OF TRANSFEROR. THE TRANSFEREE IF HE HAS SOME LTCG , THEN HE CAN CLAIM EXEMPTION U/S 54, AS PURCHASE OF PROPERTY FROM CO- OWNER IS ALSO ELIGIBLE SUBJECT TO OTHER CONDITION AS SPECIFIED IN SEC. 54 .

Your are not logged in . Please login to post replies

Click here to Login / Register

Recent Topics :