Capital gain & earnest money payment
This query is : Resolved
22 January 2016
We had paid earnest money on 01.04.2012 for purchase of Flat. The sale deed was made on 01.12.2012.
The aforesaid property was sold on 30.04.2015.
whether cost of Acquisition will be calculated from the date of payment of earnest money ?
Can i take benefit of exemption under Section 54 ?
The aforesaid property was sold on 30.04.2015.
whether cost of Acquisition will be calculated from the date of payment of earnest money ?
Can i take benefit of exemption under Section 54 ?
CA PARAS BAFNA
(Expert)
23 January 2016
Please read the article of CA Sandeep Kanoi which contains case laws and references related to your query -
https://taxguru.in/income-tax/taxability-capital-gain-sale-construction-property-nature-gain-date-indexation-availability-benefit-section-54-54ec.html
https://taxguru.in/income-tax/taxability-capital-gain-sale-construction-property-nature-gain-date-indexation-availability-benefit-section-54-54ec.html
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
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- Appointment of Auditor By Form ADT-1
- RCM and same line
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- ARCA LOGIN
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
