Capital gain

This query is : Resolved

VIKRAMADITYA SINGH (Querist)
Follow

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 ?

Sathish M

Sathish M (Expert)
Follow

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anju Susan

Girdhar Harlalka

zafar chandwale

atul kumar soni

T E SOUNDARARAJAN

Subscribe Now

Capital gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

GST CONSULTANCY

Accountant

Manager- Finance and Compliance

CA Final

Article Assistant