Capital gain on land registration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 May 2018
I had purchased a plot of land during the financial year 2009-2010 and paid full consideration value say Rs.1000/-during the same year. But due to some technical problems, the said land was not transferred in my name. Now during current year, the land is transferred in my name, but the value of land, for stamp duty purpose, has been ascertained at Rs. 1,500/-. Am I liable to pay capital gain tax on Rs. 500/-.
25 May 2018
1. No capital gains tax.
2. Check whether income tax u/s 56(2)(x)(B) will apply in your case.
2. Check whether income tax u/s 56(2)(x)(B) will apply in your case.
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
- 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)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
