90,000+ Legal Questions Answered
Capital gains tax benefits
9 months ago
My father recently bought a property jointly with my mother, now my father had paid some amount by selling shares, will he be eligible for capital gains tax benefits..?
A.Dear Sir,
The above question relates to financial matter and also tax matter. Better you may contact any chartered accountant or auditor.
The above question relates to financial matter and also tax matter. Better you may contact any chartered accountant or auditor.
Helpful
Helpful
Share
A.Dear client,
Exemption under section 54/ 54F will be available to the co-owners in the ratio in which they have contributed towards the cost of the property. Capital gains exemption will not be limited to the share of ownership.
Exemption under section 54/ 54F will be available to the co-owners in the ratio in which they have contributed towards the cost of the property. Capital gains exemption will not be limited to the share of ownership.
Helpful
Helpful
Share
Read Related Answers
Sharing of property among siblings
Dear Client,
When a registered owner passes away leaving a property intestate, i.e, without any will, all the surviving family members and legal heirs are entitled to an equal share in the said proper...
Inheritance Rights Dispute Over Mothers Property in Bengaluru
Dear Client,
A property when left by the deceased owner intestate i.e, without any will, is devolved upon the surviving legal heirs in equal share following the law of inheritance/succession. After t...
EWS Certificate
Dear Client,
The death certificate of a deceased person is a crucial document that is mandatorily required for the issue of a legal heir certificate either by the Municipal Authority or to apply for a...
POA from SriLanka to India citizen Resident Indian
Dear client,
If the seller of the property is not now in India, he can still execute a POA abroad, but the process is slightly different. His first step is to visit the Indian Embassy or Consulate in...
Darkast agriculture land sale
Dear Sir,
If there is perpetual restraint from selling the land then the grandson cannot sell without the permission from the Deputy Commissioner. The conditions in the Darkasth to be read.
Read Blogs on Property
Property Lawyers
Find Lawyers by Location
