Capital gain
This query is : Resolved
27 July 2013
Dear All,
I have purchased a property for Rs. 2 lacs while its market value or stamp duty value is 12 lacs (u/s 50C). So kindly tell the capital gain liability if we will sell this in future.
Should capital gain thereon would be calculated by taking consideration 2 lacs or 12 lacs?
Thanking you.
I have purchased a property for Rs. 2 lacs while its market value or stamp duty value is 12 lacs (u/s 50C). So kindly tell the capital gain liability if we will sell this in future.
Should capital gain thereon would be calculated by taking consideration 2 lacs or 12 lacs?
Thanking you.
27 July 2013
Rs 2.00 lac only will be considered as your cost of acquisition.
.
.
Message likes :
1 times
27 July 2013
We have sold this building on 01-May-2012 for a consideration of Rs. 10 lacs. What is the tax liability under capital gain and other sources.
27 July 2013
If the house purchased by you at the time of raising the first query and sold at the time of raising the subsequent query ,Rs. 8.00 lac will be taxable Short Term Capital Gain.
.
You can take benefit of indexation if the house in question is held for 3 years or more by the said assessee.
.
You can take benefit of indexation if the house in question is held for 3 years or more by the said assessee.
Message likes :
1 times
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- LTCG for Assmt year 26-27
- Last year TDS Claim
- Soyabean hsn code and gst rate
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- 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
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
