Capital gains
This query is : Resolved
07 July 2014
I have some querries regarding capital gains provisions ......please someone guide me on that....
1)what is considered as transfer of capital asset....registration of documents or receipt of sales consideration....what if sales consideration received first and agreement is not registered then from which date 6 months to be counted? from date of receipt of consideration or from the date of registration of agreement?...
AND from where i can get FMV of 1981...any procedure is required to follow for the same?
please help me its urgent?
1)what is considered as transfer of capital asset....registration of documents or receipt of sales consideration....what if sales consideration received first and agreement is not registered then from which date 6 months to be counted? from date of receipt of consideration or from the date of registration of agreement?...
AND from where i can get FMV of 1981...any procedure is required to follow for the same?
please help me its urgent?
07 July 2014
1. transfer is when the name of owner is changed legaly in gvt records.
2. it counted from date of transfer only.
3.from govt reg land valuers.
2. it counted from date of transfer only.
3.from govt reg land valuers.
Message likes :
1 times
07 July 2014
ok... and what if the amt of consideration deposited in capital gains a/c in the bank before actual transfer take place as the amt is received first....coz one of my client has done that?....is exemption allowed in that case?...
07 July 2014
yes even in this case its allowed but in case if any scrutiny comes then u have to prove that amount rec is for the capital gain and must be used for the specific purpose for which capital gain is exempted.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
