Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 November 2011 If any person received Agricultural Land as inherritance and subsequently it given to Pvt ltd for consideration other than cash (i.e share).
How to value this for capital gain perpose?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

07 November 2011 Please specify the location of Agriculture Land - whether in Rural area or in Urban Area.

The market value of shares will be the Sales Consideration for the purpose of Tax Calculation.
.
In case of Rural Land -No capital Gain will arise.
.
In case of Urban land indexation will be done on the basis , when the assessee first became the owner of the asset.
.
Please wait for the views of other experts also.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

08 November 2011 iNDEXATION WILL BE DONE FROM THE YEAR WHEN PREVIOUS OWNER FIRST ACQ THE ASSET. SEE THE DECISION IN KAMAL MISHRA, MINA DEOGUN, LATA G ROHRA AND OTHERS IN THIS REGARD.
I AGREE WITH BALANCE PART OF REPLY BY SH PARASJI

CA MANOJ GUPTA
JODHPUR
09828510543

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

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

Vinod Selv

AKCJ INFO

JAYDEEP MITRA

Richa Bajoria

Arun Borad

Subscribe Now

Capital gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA