Sale of house after death of spouse

266 views
User Avatar

CA
426 Points Posted on 26 June 2017

A House in the Name of a Lady. Lady Died. The House sold by Husband.

Purchased 10 years ago.

Sold in FY 2016-17. Rs 20 Lakhs.

 

Kindly Explain me about the Tax Implications - Capital Gain and Others. And also how to save Tax, any Exemption available.

 

Thanks

0 Reply Share Follow Topic
On 26 June 2017 at 20:03 Report
Replies (3)
User Avatar

student
38 Points Posted on 26 June 2017
same treatment in hand of husband as if it would have been in the hand of her spouse. The period of holding and cost of acquisition of her spouse will be considered , also exemption u/s 54 can be taken if gains are invested accordingly
Reply
On 26 June 2017 at 22:46
User Avatar

CA
426 Points Posted on 27 June 2017

Thanks Sameer.

 

And We have to Take this into Accounts of Husband. So how to make the Entry and In Income Tax Return how to Show it.

i.e. How to Show the ASSET - HOUSE.

Do we have to show it as Income from Other Sources or something else ???

 

Reply
On 27 June 2017 at 22:38
User Avatar

student
38 Points Posted on 27 June 2017
it is a capital assest hence taxable under head capital gains and since held for more than 3 years LTCG
Reply
On 27 June 2017 at 22:45

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Bill-to-ship-to material at client site, project c
  2. Export previously now to be considered domestic sa
  3. Pan surrender via online
  4. EPFO Portal Issue – Unable to Save Employee
  5. Plant & Machinary
  6. ITC reversal after supplier amended the recipient
  7. GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
  8. INTEREST ON REFUND OF TDS
  9. Input tax claim related
  10. User not found in MCA portal

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details
Company
12 November 2026
Auditor

Oz Taxation

Vijayawada

Graduate (Any)

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
12 November 2026
Tax Product Specialist

BharatX.ai

Gurgaon

B.Com

View Details
Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details