Capital gain
This query is : Resolved
16 November 2012
i have purchased commercial property in my HUF on 30-10-10 for Rs. 707550 + stamp duty & Reg. 74765 = Rs. 782315 now i'm getting a offer of Rs. 25Lacs.
1.)So kindly suggest me whether stcg or ltcg will apply?
2.) How to get exemption from income tax as where to invest ie., in commercial or residential property?
3.) How much time available for reinvestment?
4.) Also let me know the method of calculation for capital gain?
As i dont have any residential property in my HUF.
1.)So kindly suggest me whether stcg or ltcg will apply?
2.) How to get exemption from income tax as where to invest ie., in commercial or residential property?
3.) How much time available for reinvestment?
4.) Also let me know the method of calculation for capital gain?
As i dont have any residential property in my HUF.
21 November 2012
1. If the property is held for less than 36 months then it is a short term capital asset and accordingly STCG shall arise on transfer of such property.
2. Since the gain is STCG you are not eligible for any exemption.
2. Since the gain is STCG you are not eligible for any exemption.
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
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Advances to related party
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Capital Gains Tax on Inherited Mutual Fund
- IMS (import of goods) ITC related
- 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
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
