Capital Gains Tax query

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..... Hello Forum Members, I have a capital gains tax query for a property sold recently in Kerala. A commercial property was sold with 3 joint owners(all related family members). The buyer provided 2 cheq .....

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..... ues as payments, split with different amounts in the name of 2 owners only. For capital gains tax calculation(my understanding is 20% flat), would it be viewed by the income tax department as- a) Eac .....

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..... h of the 3 owners received equal amounts irrespective of actual amounts received(due to equal 3rd ownership each) and pay capital gains tax accordingly or b) Individual tax liability based on actual .....

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..... amounts received by each individual. For eg Owner 3 received nothing for the sale and hence has 0 CGT liability. Hopefully a qualified individual is able provide proper tax advice. Thanks in advance .....

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..... . - Reply By Aitha RajyaLakshmi - The Reply = The Sale consideration will be divided in between the Three members as per their Share in the Registered Document and taxed accordingly. If no share is .....

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..... drafted in Documents, divided equally among Three members. - Capital Gains Tax query - Query Started By: - Stanley Chathuruthy Dated:- 17-2-2017 Income Tax - Got 1 Reply - Income Tax - Discussion F .....

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..... orum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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