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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)
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.
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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