Apportionment of sale amount of land and building
This query is : Resolved
03 April 2019
Land with building thereon is sold and sale consideration is received. Building is depreciable asset as per books. Now how sale proceeds are to be apportioned towards Land and Building to calculate Long Term and Short Term capital gains
05 April 2019
In the sale deed if there is no clear bifurcation of the sales consideration as regards the land and as regards the building then it is going to be a debatable issue. The simplest method for the same is to divide the consideration in proportion of the cost of the land and WDV of the building as it stands in the books just before transfer/sale.
Message likes :
2 times
05 April 2019
Thank You Sir for taking up this query and offering very clear opinion..
..Regards for you
..Regards for you
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
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Management System (IMS)
- FTS Taxable under 115A
- Experts need help
- Gift Received from nonblood relative
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
