Capital gain
This query is : Open
05 March 2013
I had purchase flat in Feb-2010 for Rs. 10,00,000 + Stamp Duty Rs. 59000 + Cost of Improvement Rs.50000.
I had sold it in May-2011 through Power of Attorny. Sale amount is Rs.750000/- by Cheque.
Please guide me for calculating capital Gain/loss amount.
thanks & Waiting for your reply.
I had sold it in May-2011 through Power of Attorny. Sale amount is Rs.750000/- by Cheque.
Please guide me for calculating capital Gain/loss amount.
thanks & Waiting for your reply.
05 March 2013
dear ankur,
its a short term capital loss transaction.
subtract from the cost cost of acquisition and cost of improvement ( Rs 10,00,000 + Rs 59,000+Rs 50,000) the sale consideration(Rs 750000). The amount arrived at is the short term capital loss.
its a short term capital loss transaction.
subtract from the cost cost of acquisition and cost of improvement ( Rs 10,00,000 + Rs 59,000+Rs 50,000) the sale consideration(Rs 750000). The amount arrived at is the short term capital loss.
06 March 2013
This Capital Loss Amount i have to saw in my ITR or Not. If yes, then how can i show in my ITR. If i show the loss in my ITR then have i face any problem in future during IT Assement.
Thanks & Waiting for your Reply.
Thanks & Waiting for your Reply.
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
- STCG....................................................
- Supply through E-commerce Operators
- TAN for Partnership
- Relief u/s Section 89
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Loan by Partnership Firm
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
