Capital gains tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2012
my wife owns a plot admeasuring 274.66 sq yards in hyderabad. She intends to give the plot for development. the developer agreed to
give 3500 sq ft area of flats as consideration.she intends to retain the flats.Since she does not sell the flats, my query is whether she is liable to pay any capital gain tax on the above transaction.
give 3500 sq ft area of flats as consideration.she intends to retain the flats.Since she does not sell the flats, my query is whether she is liable to pay any capital gain tax on the above transaction.
04 October 2012
Yes, She should be pay capital gain tax. Consideration may be in any form. she loosing one flat instead of getting another flat i.e selling of such flat and purchasing of another plat from the same parson i.e seller and buyer is the same. So market value of the new flat i.e 35oo sq ft area flat will consider as sale consideration as on the date of sale or agreement.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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
- House Property Reporting in ITR
- Refund Annexure-B
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- TDS Challan Code
- Rent lease agreement
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- 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
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
