Capital gain on home sale and another home purchase
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2012
ass year 2011-12
sir
i have a home in surat on paper value amount of 596000/- on date (1.4.10)
i sold my home (on date 15.1.2011) to another party by payment amount of 1411000/-
how can i book profit in my personal account and should i have to pay capital gain. yes or no ????
because of i have purchase another home on date (9.9.10)in same year and same city on paper value 328160/- incl of stamp duty and registration fees.
please tell me account entry of such transaction
i am confused please help me !!!!!!
sir
i have a home in surat on paper value amount of 596000/- on date (1.4.10)
i sold my home (on date 15.1.2011) to another party by payment amount of 1411000/-
how can i book profit in my personal account and should i have to pay capital gain. yes or no ????
because of i have purchase another home on date (9.9.10)in same year and same city on paper value 328160/- incl of stamp duty and registration fees.
please tell me account entry of such transaction
i am confused please help me !!!!!!
24 August 2012
as per the period of holding it is SHORT term capital gain. Accordingly it will be taxed.
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
- Sale of goods to the purchasing party
- OLD REGIM AND NEW REGIM
- Resignation of auditor and appointment and cfss
- FORM 10BB/10B REQUIRED OR NOT
- Partner retired
- SCARP SALES - GST INVOICE & GST APPLICABILITY
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- RELATED TO TRIBUNAL APPEAL
- Sec 44ada applicable only or both
- Compulsory aqisation of Agriculture & Non Agriculture land are taxable or not ?
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
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
