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
CA Abhishek Rana
(Expert)
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.
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