Capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

17 January 2013 how can i calculate capital gains tax on sale of land with building and machinery ? when DLC value of whole Property is 43 Lakhs( including Land Machinery & Building)

CA. Subhash Dangi

CA. Subhash Dangi (Expert)

17 January 2013 U have to calculate capital gain on each block of assets i.e, Land, Building and Machinery separately.

For computing capital gain, u must be knowing sales consideration and their related cost of each assets separately by adopting suitable valuation of assets by valuer if the total consideration of 43 lakhs not ascertainable separately.

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Querist : Anonymous

Querist : Anonymous (Querist)

18 January 2013 thanks sir i have also one query relating to above query
can assessee invest the considaration of his fathers house so he take exemption u/s 54f or not ?

CA. Subhash Dangi

CA. Subhash Dangi (Expert)

18 January 2013 Yes. You can get the exemption u/s 54F subject to conditions laid down under the provisions this section.

Assessee can invest the consideration in his fathers' house but it has to be registered in assessee name by way sale deed as same may be shown as proof if AO asks.

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