tax for selling property

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..... tax for selling property
Query (Issue) Started By: - Scientific advsr Dated:- 9-2-2018 Last Reply Date:- 24-7-2018 Income Tax
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Income Tax
Hello I purchased a flat in India in .....

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..... 2008 on my spouse (house wife) name, when I was in USA. We both were in USA when the purchase was made. We sold the flat with no profit in 2018 and payment has been made to my spouse account. Now I w .....

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..... ould like to know 1. Is this considered as gift? 2. is there any capital gain tax as there is no profit. 3. Any other tax queries which may arise in future. Your suggestions are greatly apprecia .....

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..... ted. Thanks Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: 1. You have to decided whether it is a gift. You may gift the same to your wife. 2. If the guideline value is more than your sale value t .....

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..... hen capital gains tax will arise. Please check it up. 3. Based on the point no. 2, queries may be rised by the Department.
Discussion Forum - Knowledge Sharing .....

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