Home > Experts > Income Tax > taxability on sale of property under tenancy rights/pagadi s


Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


taxability on sale of property under tenancy rights/pagadi s (Income Tax)

Report Abuse
This query is : Resolved

Author : Anonymous

( Author )
28 April 2010

Say I am occupying a house on tenancy rights besis or more commonly known as pagadi system. I sell this house. What is the taxability scenario in this case?


Aditya Maheshwari

( Expert )
28 April 2010

Sale of tenancy rights is taxable under the head capital gains.


B.Chackrapani Warrier

( Expert )
28 April 2010

Tenancy right is a capital asset. Its transfer,therefore, attracts provisions of capital gains tax. Cost of acquisition has to be determined under section 55(2) (a) (i) or (ii) of the Income tax Act,1961.


Previous

Next

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


Click here to login ( Members Login ) now


Similar Resolved Queries :












submit










Quick Links





back to the top