Calculation of cost of acquisition
This query is : Resolved
15 March 2012
plz suggest how COA would b calculated in case below-
Suppose I hv a land(bought in 1989),I gv it 2 a builder to develop.i receive 12 flats as per contract(40% of total flats).
What will b the COA of one flat?
Suppose I hv a land(bought in 1989),I gv it 2 a builder to develop.i receive 12 flats as per contract(40% of total flats).
What will b the COA of one flat?
CA PARTH SHAH
(Expert)
11 January 2014
Capital Gain depends on the the manner in which the the property is transfereed to the builder. If you have transfered only the right to develop the society to the builder, it is tranfer of asset as per income tax act and hence calculate the capital gain accordingly
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
- Gst credit note by supplier
- Movement of goods by packers and movers - type of sale - Reg.
- Missed uploading GST Invoice
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Wrong CMPo8 file
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
