About capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2012
One of client is Joint owner of a commercial cum residential plot. they are 3 joint owner of that property.
In last FY they do some construction activity there and sold three shops.The remaining four shops and a flat are still unsold.
I want to know that what is the tax treatment in each joint holder computation.
the details are as follows.
Cost of plot :40 Lacs
cost of construction:50 Lacs
three shops sold @ 20 Lacs each
In last FY they do some construction activity there and sold three shops.The remaining four shops and a flat are still unsold.
I want to know that what is the tax treatment in each joint holder computation.
the details are as follows.
Cost of plot :40 Lacs
cost of construction:50 Lacs
three shops sold @ 20 Lacs each
10 July 2012
Total cost is Rs. 90 lakh
Apportion this cost among the shops & the flats in proportion to the covered area.
This apportioned cost shall be the cost of acquisition of each separate unit.
Apportion this cost among the shops & the flats in proportion to the covered area.
This apportioned cost shall be the cost of acquisition of each separate unit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Short Term Capital gain on shares bought and sold after 2018 onwards
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 2 Short Term gain & Long term gain
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
