Long term capial gains

properly purchase by father in the name of minor son name since long. His brothers treated this property HUF property . After partion . share sales by one member . please calculation of long term capital gains in this regard .
Replies (6)
Quick Summary
This discussion focuses on calculating long-term capital gains (LTCG) following the partition of a HUF property. It addresses scenarios where property was acquired before FY 2000-2001 and partitioned in FY 2021-22. The query also seeks clarification on LTCG implications when no consideration is received during a property transfer, particularly if it's considered a gift from a relative.

Please elaborate in details
Property acquired before fy 2000-2001. Partition in the fy 2021-22. Please clarify the purpose of long term capital gains
If no consideration received in transfer of property, then same is considered as gift.

Gift received from relative is exempted, so no liability arise.
Also sales in fy 2021- 22 , please clarify the purpose of long term capital gains

Clarify about the transaction taken place, so we can respond properly.

It should be treated as LTCG

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