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Question on capital gain
one husband and wife purchase a buliding on1/1/1978 for rs.8000
and they have two childrens.further he incurred rs.50000 for construction on 1/1/85 and husband died on 1/4/2004 and wife died on 1/4/2008 and now son wants to sell building for rs.80 lac.
now q is wether capital gain is taxable in the hands of son and please give your suggestion
Replies (5)
Yes capital gain is taxable in the hands of son himself.
Yes. Capital gain is taxable in the hands of son.
Cost of acquisition and cist of improvement to be indexed from 1.4.1981 and 1.1.1985 respectively.
Yes. Capital gain is taxable in the hands of son.
Cost of acquisition and cist of improvement to be indexed from 1.4.1981 and 1.1.1985 respectively.
Yes capital gain is chargeable in the hands of son . For the purpose of indexation 2008-09 index shall be taken as selling year index.
i think capital gain is applicable on son becouse ultimately all property have own.
thanks & regard
ramanuj
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