Capital gain exemption for furniture and fittings
This query is : Resolved
24 November 2015
I Sold Property of rs2 cores. and same is is mentioned in sale Deed. same is claimed exemption U/S 54.
My Query is . Furniture and Fittings and Interiors Sold Value is of Rs.30 lacks. this amount are not shown in Sale Deed. Bu we Separate Agreement made and same is taken for capital Gan.
As per Sale Deed Sale Value.2.00 Cores
Sale of Furniture 30.00 Lacks
Total 2.30 Cores
Less: Building Cost 1.50 Crores
Furnitures .25 Lacks
Capital Gain .55 Lacks
Exempt U/S54 2.80Crores
Capital gain is NIl
This is correct or Furniture and fittings are shown separatelyin the Income from Other Sourcess Please Clarify Sir
My Query is . Furniture and Fittings and Interiors Sold Value is of Rs.30 lacks. this amount are not shown in Sale Deed. Bu we Separate Agreement made and same is taken for capital Gan.
As per Sale Deed Sale Value.2.00 Cores
Sale of Furniture 30.00 Lacks
Total 2.30 Cores
Less: Building Cost 1.50 Crores
Furnitures .25 Lacks
Capital Gain .55 Lacks
Exempt U/S54 2.80Crores
Capital gain is NIl
This is correct or Furniture and fittings are shown separatelyin the Income from Other Sourcess Please Clarify Sir
25 November 2015
Gain on sale of Furniture and fittings to be shown separately under income from other sources.
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