Can we reduce land cost from Stamp Duty Value
This query is : Resolved
YELLANKI RATHNAGIRI
(Querist)
06 August 2024
Mr. X is Land Lord, individual and having Land 1000 Sq Yrds
Mx. Y is Builder
They entered in to JDA (ratio 60:40)
Total 10 flats (6 flats for Land Lord and 4 flats for Builder)
Capital Gain Tax Calculation (after completion Certificate)
FCV 6 Flats * 10 lakhs (SDV value) =60,00,000
Land (40% )Acquisition 3,90,000*348/100=13,57,200
Long term Capital Gain= 46,42,800
Here my doubts:
here Stamp Duty Value means flat construction cost and land (undivided Share) cost
Can we reduce land cost from this SDV Value to take FCV value because here in my opinion construction value is only out consideration. 60% land was hold with us as undivided share.
if not why shouldn’t be reduce land cost?
Please give reply
Thank you
Mx. Y is Builder
They entered in to JDA (ratio 60:40)
Total 10 flats (6 flats for Land Lord and 4 flats for Builder)
Capital Gain Tax Calculation (after completion Certificate)
FCV 6 Flats * 10 lakhs (SDV value) =60,00,000
Land (40% )Acquisition 3,90,000*348/100=13,57,200
Long term Capital Gain= 46,42,800
Here my doubts:
here Stamp Duty Value means flat construction cost and land (undivided Share) cost
Can we reduce land cost from this SDV Value to take FCV value because here in my opinion construction value is only out consideration. 60% land was hold with us as undivided share.
if not why shouldn’t be reduce land cost?
Please give reply
Thank you
13 August 2025
https://docs.google.com/document/d/18SU8HMGAFGYZ4yVmJm2FCj18zG4_-TCjQUHoKsS58ew/edit?usp=sharing
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- TDS on Dashcam rent and allied services
- GSTR-9C filing
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- Gift to nri relatives residing in usa
- Intimation under section 245
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Royalty payments to the Mining Department for procurement of murum - GST input
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
