Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2012
dear expert
I have sol a agriculture land in urban area for Rs 15 Lacs value as per 54 stamping is Rs 35 Lacs I Purchased in 2005 at Rs 10 Lacs stamp value Rs 22 Lacs please clarify 1) Sale Value Rs 35 or 15 2) Indextion on Rs 22lacs or 10 Lacs the exemptions available
Please provide ASAP
I have sol a agriculture land in urban area for Rs 15 Lacs value as per 54 stamping is Rs 35 Lacs I Purchased in 2005 at Rs 10 Lacs stamp value Rs 22 Lacs please clarify 1) Sale Value Rs 35 or 15 2) Indextion on Rs 22lacs or 10 Lacs the exemptions available
Please provide ASAP
27 November 2012
1. Sale price shall be Rs. 35 lakhs (as per Section 50C).
2. Cost of acquisition shall be Rs. 10 lakhs.
Accordingly indexation will be applied on Rs. 10 lakhs.
3. You can claim exemption u/s 54F by investing the sale proceeds in a residential house or u/s 54EC by investing in specified bonds.
2. Cost of acquisition shall be Rs. 10 lakhs.
Accordingly indexation will be applied on Rs. 10 lakhs.
3. You can claim exemption u/s 54F by investing the sale proceeds in a residential house or u/s 54EC by investing in specified bonds.
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