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.
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
- Intimation under section 245
- Royalty payments to the Mining Department for procurement of murum - GST input
- 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
