Capital gain
This query is : Resolved
16 December 2011
Hello Sir,
I had purchased a open plot in 1998-99 for Rs.80,000/- which I did not shown in balance sheet. Now i want to sell this plot and i want to show capital gain in my I.T.Return. Is there any problem pl. guide me.
Thanks
I had purchased a open plot in 1998-99 for Rs.80,000/- which I did not shown in balance sheet. Now i want to sell this plot and i want to show capital gain in my I.T.Return. Is there any problem pl. guide me.
Thanks
17 December 2011
Dear Devendra,
u can show the sale of plot and recognize capital gains in this year's income tax return.
Indexation benefit shall be available as it is a long term capital asset.
u can show the sale of plot and recognize capital gains in this year's income tax return.
Indexation benefit shall be available as it is a long term capital asset.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
