Re: [aurangabad_ca] QUARRY ON CAPITAL GAINS
Dear Vasant,
In my opinion in the first case as per provisions of Sec. 64 (1) (iv) the capital gain will be taxable in the hands of husband. And in the second case it will be taxable in the hands of the wife.
Regards.
On 3/29/10, VASANT TORKA <vgtorka@gmail.com > wrote:
DEAR SIRI REQUIRE YOUR OPINION ON FOLLOWING QUARRY- MR A MAKES CASH / BANK GIFTS TO HIS WIFE, WHO PURCHASE A HOUSE PROPERTY WITH THE GIFTED MONEY IN 2005- IN 2010 , WIFE SOLD THE HOUSE PROPERTY PURCHASE FROM GIFTED MONEY , THERE IS CAPITAL GAINS- WHO IS LIABLE TO PAY CAPITAL GAIN TAX - HUSBAND OR WIFE- IS THERE IS ANY DIFF IF HUSBAND TRF HOUSE PROPERTY TO WIFE INSTEAD CASH / BANK GIFT AND THERE IS CAPITAL GAIN.REGARDSV G TORKA
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group's Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
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