Caital gain
This query is : Resolved
09 July 2023
I have received property (house) from mother by way of gift deed in 2018. The property was purchased by her in 1971. Later I abolished that house and sold the plot in 2022. What wiil be the cost of acquisition
P.S. if we take f.m.v. as on 2001 should I consider the fmv of only plot or plot and house
P.S. if we take f.m.v. as on 2001 should I consider the fmv of only plot or plot and house
09 July 2023
Only plot, as you sold plot.
09 July 2023
Thank you sir. Sir will it make any difference if I sale the plot with house
09 July 2023
Do you mean after construction of new house?
Yes, it depends at what rate you sell it.
Yes, it depends at what rate you sell it.
09 July 2023
Thank you sir I really appreciate your quick response to my query
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09 July 2023
You are welcome.
09 July 2023
Under which section can I claim exemption sec 54 or sec sec 54f
09 July 2023
For sell of plot, exemption u/sec. 54F IT act is applicable.
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