Capital gain
This query is : Resolved
10 February 2017
A private limited company has purchased a land from SBI in an auction below stamp duty value , did he is liable to pay tax on capital gain ?
10 February 2017
Capital gains clause gets invoked when there is a transfer between the seller to the buyer. In your case, the bank is the seller and the provisions of Capital gain onus is on the Bank, however as a buyer, the private company while making payment to the Bank must ensure that it deducts 1% TDS on acquiring the property, if the value exceeds Rs.50 Lakhs as per the provisions of 194IA.
Message likes :
2 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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- TAX AUDIT QUESTION
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Banking Related Issue
- Average Cost Of High Quality Diamonds
- ITR-3 File/Error Found
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
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
