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.
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