Capital gain
This query is : Resolved
09 July 2016
I have sold a building in 2015-16 which was acquired in 2011-12. Agreement cost of purchase was Rs 59 lakh and Stamp value was Rs 67 lakh. Which value should be taken for the calculation of Indexed cost of acquisition.
09 July 2016
Rs. 67 lakhs provided Rs. 8 lakhs [67-59] is offered as income u/s 56(2)(vii) in the year 2011-12.
12 July 2016
Dear sir, as per my understanding, for immovable property Sec 56(2)(vii) is amended w.e.f. AY 2014-15, it means it was not applicable for immovable property in the year 2011-12. So, I think, IOS will not generate in the hands of purchaser in that year. Even can I take Rs 67 lakh for indexation purpose to compute lower Capital Gain.
12 July 2016
If so 49(4) has no relevance in this case.
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
- Showing Gift from relative in ITR for this year
- Off Market debit and credit transaction
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- ITR returnFY25-26
- AY 26-27 ITR-4 FILING U/S 44-ADA
- 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
- 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
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
