Capital gain on transfer of property to builder
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2013
Mr.A sold a plot of 10000 sq.ft(approx.) to a builder, builder in form of consideration agrees to give him 4 flats (each of 1000 sq.ft i.e.around 40% of property) plus sum cash. What will be his sale consideration? Will it be equal to market value of 4 flats plus cash portion?
Further, can assessee claim deduction u/s 54F as an investment in those 4 flats? if yes, then what will be the value of deduction?
Further, can assessee claim deduction u/s 54F as an investment in those 4 flats? if yes, then what will be the value of deduction?
05 February 2013
54 and 54F are tricky sections. Where 54 aims at PLURAL 54F does not aim at PLURAL. Care needs to be taken while submitting the working of capital gain. The sale consideration shall be the value used for registration purposes... sec 50C.
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
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Bank Accounts in Balance Sheet for ITR 3
- ITR 1: Details for showing Exempt Income
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
