Capital gain query

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Soniya (Querist)
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03 November 2013 My friend has sold the residential property in last week amount 64,34,000 and stamp duty was 450650.Date of Construction as per the Deed was 2005 -2006 but property was registered on 14.08.2008. Purchase value was 2,435,000 and stamp duty was 1,61,450. REpair and maintenance was 1,00,000 in the year of 2008 and 1,00,000 in 2009.

Can any one tell me what will be the Capital gain in this case?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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03 November 2013 yOU NEED TO FIND OUT THE VALUE ADOPTED BY STAMP VALUATION AUTHORITY FOR CAL OF STAMP DUTY......SUCH AMOUNT SHALL BE FULL VALUE OF CONSIDERATION AND NOT 65,00,000 AS GIVEN ABOVE AS PER SEC 50C.

Soniya

Soniya (Querist)
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03 November 2013 How to calculate the value adopted by Stamp Valuation Authority???

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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03 November 2013 fOR THAT U NEED TO CHECK THE PAPERS AND DOC WITH U WHEN U PAID THE STAMP DUTY AS TO WHAT VALUE THEY ADOPTED WILL BE MENTIONED IN IT.

ELSE THEN U NEED TO PAY THE FEES TO STAMP AUTHORITIES AND GET THE VALUATION AS PER THEIR RULES.

Soniya

Soniya (Querist)
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03 November 2013 AS per the docs value adopted by stamp valuation authority and Sale consideration is same.

so in this case Date of purchase will be 14.08.2008??
and Stamp duty paid will be covered in Cost of acquisition??

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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03 November 2013 yES AND STAMP DUTY PAID WILL BE CLAIMED AS TRANSFER EXP.

Soniya

Soniya (Querist)
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03 November 2013 DATE OF PURCHASE WILL BE 2005-05 OR 2008???

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