Capital gains
This query is : Resolved
Parth Magia
(Querist)
16 December 2012
Sir-
If the assessee has occupied vacant land, then later on the owner of the land came to know that his land was used by the assessee.even though the assessee was not paying any rent or so.
The owner had paid a lumpsum amount to the occupancy to vacant his land.
Whether such amount is taxed under capital gain ? under which section can the assessee claim the exemption benefit, if so?
thanks and regards,
If the assessee has occupied vacant land, then later on the owner of the land came to know that his land was used by the assessee.even though the assessee was not paying any rent or so.
The owner had paid a lumpsum amount to the occupancy to vacant his land.
Whether such amount is taxed under capital gain ? under which section can the assessee claim the exemption benefit, if so?
thanks and regards,
Amol S Joglekar
(Expert)
16 December 2012
It can be taxed under capital gain having cost of acquisition NIL.
Message likes :
1 times
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Oct 2025 Invoices
- MSME disclosure and disallowance
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
