Hi
IN Family settlement arrangement , if one holder gets cheque payment and other holder gets property, then is the holder who gets cheque payment subjected to Capital Gains Tax.
santosh viswanathan (PM) 18 May 2012
Hi
IN Family settlement arrangement , if one holder gets cheque payment and other holder gets property, then is the holder who gets cheque payment subjected to Capital Gains Tax.
Kishtaiah (Advocate) 19 May 2012
No. In family settlement no capital gain tax. Keep the records for verification.
sri (ceo) 20 May 2012
better ask ca forum... capital gains definition is attracted...
the money moving from one hand to another... with this money if you buy a new house you are bound to be taxed...
DR. KANHAYALAL SHARMA (TAX CONSULTANTS) 24 May 2012
In a family settlement or arangement there is no trasfer of property per se. The members simply get what they already have right, title and interest over. The settlement on decides the issues and decides how to partition the property and settles disputes. Therefore there is no transfer of property and therefore no question of gains.
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