Can we reduce land cost from Stamp Duty Value
This query is : Resolved
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
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