Capital gain
Krishanu Majumder
(Querist) 10 July 2014
This query is : Resolved
Dear sir, I have some queries about capital gain from sale of house. Those are following-
1) assessee purchased a flat with his own money but a portion of selling consideration was received in his bank and the rest was in his wife's bank, who is a housewife and was not involved at the time of purchase.
2) they booked a new flat and the payment was made from his and his wife's bank. How to show this gain? Should his wife need an it file?
3) father purchased a house that a son inherited and sold? Should it be capital gain? If Yes? What's the cost price? Is it the price his father purchased with?
4) sale deed is signed on march14 but sale considerations is received on april14. For which year it will be capital gain?
5) assessee encashed the sales considerations in normal savings account though he booked a flat within 2months of receiving the cheques. Can he get exempting u/s 54? pls reply soon.
