Easy Office
LCI Learning

Regarding sale of property

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 June 2014 dear Sir,
if i sold my property ( flate ) , then how much amount should i take in cash & cheque from party
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
11 June 2014 doesnt matter as for income tax purpose sec 50C will be taken as amount rec by u for cal of capital gain tax.
Profile Image

manish i. darji

Profile Image

manish i. darji (Querist)
11 June 2014 for example : if i sold property in 20lacs & against it i purchase worth Rs. 30 lacs thn what ?



Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
11 June 2014 then u will get 30 lakhs exemption u/s 54 but the capital gain will be cal as per valuation taken by stamp valuation authority for the purpose of stamp duty payment.
Profile Image

manish i. darji

Profile Image

manish i. darji (Querist)
11 June 2014 thank you very much sir
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
11 June 2014 you are welcome manish................................
Profile Image

CA UMESH DULAL

Profile Image

CA UMESH DULAL (Expert)
11 June 2014 Do not go for black and white. Try to create wealth by paying tax.
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
11 June 2014 dear tushar,

exemption amount cannot exceed the sale amount.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links