Question ID :
Original owner vs beneficial owner , Tax Treatment
When Land and building transferred by settlement who is original owner and beneficial owner. If settled property sold in future year in whos hand tax is leviable.
Wife has transferred her land and building to her husband by settlement. For the property original owner is wife and beneficial owner is husband. If this property will be sale in future in whos hand tax is levy. In this situation wife has sold another one property, when claiming deduction u/s 54 settled property may be count in the hand of wife.
Jun 26 2021 12:00AM