Capital gain
This query is : Resolved
Limdiwala Zuzer
(Querist)
13 July 2016
Suppose one person has received in cash rupees 2500000 for giving possession of rented commercial shop which he/she has acquired 60 years ago on rent. He/she was paying rent in court as per Law. How tax compliance will be there on such amount?
Shubham Gupta
(Expert)
13 July 2016
the amount received on surrender of tenancy is subject to capital gains tax.
t deductions under section 54EC, 54F. can be applied
t deductions under section 54EC, 54F. can be applied
Limdiwala Zuzer
(Querist)
13 July 2016
Sir, how i will determine acquisitin cost in capital gain?
Shubham Gupta
(Expert)
13 July 2016
acquisition cost will be nil. or if any cost paid.
Limdiwala Zuzer
(Querist)
13 July 2016
Which type of cost will become a part?
CA. Sunil Gokhale
(Expert)
14 July 2016
Cost is the amount paid to previous tenant to acquire his right.
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