CAPITAL GAIN
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2011
One Pvt Ltd CO. has loan of Rs. 1 cr and its property is hypothected by the bank worth rs. 3 cr and the co is unable to repay the loan and the bank auction the property for Rs. 4.8 of the co...I would like to know whether Capital gain would arise for the difference amount
CA Sumat Singhal
(Expert)
09 June 2011
Transfer includes relinquishment of title so in above case i suppose capital gain will be attracted..
CA MANOJ GUPTA
(Expert)
09 June 2011
CAP GAIN WILL BE ATTRACTED AND NO DEDUCTION WILL BE ALLOWED FOR THE LOAN AMOUNT
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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