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?
How to value this for capital gain perpose?
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.
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.
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
I AGREE WITH BALANCE PART OF REPLY BY SH PARASJI
CA MANOJ GUPTA
JODHPUR
09828510543
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