Anonymous

On 30 April 2012, I bought a vacant plot of land in Khardah municipality of West Bengal for Rs 4,40,000 and also paid around Rs 26,000 for stamp duty.
The market value of the plot was assessed at Rs 4,40,000.
Though I wanted to construct a house on the plot, for some reasons I had to sell the plot on 12 February 2014 for Rs 5,00,000 (within 1 year & 10 months).

I want to show the gain of Rs 34,000 in my IT return for AY 2013-14.
I use Form ITR-2 for filing the return.
Are the following correct:
1. Do I have to show it under 'Short-Term Capital Gains' in the section 3 for 'From assets in case of Others where section 111A is NOT applicable'?
2. Do I show Rs 500000 as the 'Full value of consideration' in this section?
3. Do I show Rs 466000 (440000+26000) as the 'Cost of acquisition' in the same section?
4. Under section D 'Information about accrual/receipt of capital gain' do I show the gain of Rs 34000 in 'STCG OTH' column against Date '16/12 to 15/3' i.e Dec to Mar ?

Thanks in advance


RRRRR

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Michelle D'Mello
08 April 2014 at 20:08

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I have some queries,

I have given my graduation final year exams (B.com with computer application). previously in 1st year i secured 71% and in 2nd year 76%. My results of final year will be out in June 2014.

AM I ELIGIBLE FOR IPCC DIRECT ENTRY SCHEME ?

Since there are two months more left for my results to be out, can i register for IPCC through provisional registration of direct entry IPCC.

CAN I APPLY FOR PROVISIONAL REGISTRATION ?

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HOW TO CONFORM THE PROVISIONAL REGISTRATION ?


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08 April 2014 at 18:46

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08 April 2014 at 17:57

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08 April 2014 at 17:46

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08 April 2014 at 17:35

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