Long term capial gains

255 views
User Avatar

PROPRIETOR
552 Points Posted on 22 July 2021
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 .
0 Reply Share Follow
On 22 July 2021 at 12:58 Report
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.

User Avatar

Chartered Accountant
24588 Points Posted on 22 July 2021
Please elaborate in details
Reply
On 22 July 2021 at 13:45
User Avatar

PROPRIETOR
552 Points Posted on 22 July 2021
Property acquired before fy 2000-2001. Partition in the fy 2021-22. Please clarify the purpose of long term capital gains
1 Reply
On 22 July 2021 at 18:42
User Avatar

Chartered Accountant
86505 Points Posted on 23 July 2021
If no consideration received in transfer of property, then same is considered as gift.

Gift received from relative is exempted, so no liability arise.
Reply
On 23 July 2021 at 06:37
User Avatar

PROPRIETOR
552 Points Posted on 23 July 2021
Also sales in fy 2021- 22 , please clarify the purpose of long term capital gains
Reply
On 23 July 2021 at 09:52
User Avatar

Chartered Accountant
86505 Points Posted on 23 July 2021

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

Reply
On 23 July 2021 at 10:43
User Avatar

Chartered Accountant
24588 Points Posted on 23 July 2021
It should be treated as LTCG
Reply
On 23 July 2021 at 11:20

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. How do I choose the Best GST Lawyers in New Delhi
  2. Loss on sale of residential flat after indexing al
  3. Short Deduction
  4. Large mismatch between AIS Business Receipts and G
  5. Income tax on Australian Stipendiary Steward on 3
  6. INCOME TAX SECTION 92E
  7. Queries on Tax Invoice and GST
  8. Income Tax Auditor Tenure for Small Companies
  9. Sec 8 company sec 12ab reg
  10. AIS Password: How to Open Your AIS PDF?

More recent discussions | Post

Related Topics :

Loading