Capital Gain
This query is : Resolved
Aashish Verma
(Querist)
18 December 2009
Hello All
We have sold out one of our Land in Rs. 9,40,000. We have bought another land for Rs. 9,65,000 to start a business. Is there any Capital Gain liability arises or not??
Please reply
We have sold out one of our Land in Rs. 9,40,000. We have bought another land for Rs. 9,65,000 to start a business. Is there any Capital Gain liability arises or not??
Please reply
Aashish Verma
(Querist)
18 December 2009
One of my friend told me that Due to Business Land, Long Term Capital Gain will arise. Please resolve my query
M Prabhakar Menon
(Expert)
18 December 2009
Capital gain arise on receipt of sale proceeds u have not disclosed date of purchase to comment on applicabilty of CG.
Aashish Verma
(Querist)
18 December 2009
We have bought another Land within 6 Months.
Aashish Verma
(Querist)
18 December 2009
We have bought second land within 6 Months of the date of sold out the first.
19 December 2009
capital will arise subject to surplus of sale proceed over cost or indexed cost of land as the case may be
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