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?
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
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