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.
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