Capital gain
This query is : Resolved
27 April 2011
Hi
I filled DDA form and luckily got one flat allotted from DDA.my question is if I sell the Allotment letter on premium to property dealer what are the tax implications.Do I need to pay short term capital gain tax or any other tax on the premium amount which i will receive.
Please suggest.
Also if sale proceeds are reinvested in another resedential property will there be any exemptions from capital gain tax.
I filled DDA form and luckily got one flat allotted from DDA.my question is if I sell the Allotment letter on premium to property dealer what are the tax implications.Do I need to pay short term capital gain tax or any other tax on the premium amount which i will receive.
Please suggest.
Also if sale proceeds are reinvested in another resedential property will there be any exemptions from capital gain tax.
27 April 2011
The property was never owned by you. Only the allotment is sold. Therefore, there is no capital gains. It will be Income from Other Source.
As there is no capital gain investment in any other property will make no difference.
As there is no capital gain investment in any other property will make no difference.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
