Capital gains urgent
This query is : Resolved
CHHELU GOVALIYA
(Querist)
04 October 2013
dear experts
i have purchase plot rs. 500000 dt. 3-5-2012
and build complex 4 flat construction exp rs. 1500000
up to 31-3-13 only one flat sale rs. 725000
and agriment price (as janti )rs. 190000
my query is
what my capital gain ??
i have purchase plot rs. 500000 dt. 3-5-2012
and build complex 4 flat construction exp rs. 1500000
up to 31-3-13 only one flat sale rs. 725000
and agriment price (as janti )rs. 190000
my query is
what my capital gain ??
CA Pallav Singhania
(Expert)
04 October 2013
You have to proportionate the expenditure incurred in 4 flats..
It will be a short term capital gain...
Sale consideration XXX
less:
Cost of the flat sold XXX
Short Term Capital Gain XXX
It will be a short term capital gain...
Sale consideration XXX
less:
Cost of the flat sold XXX
Short Term Capital Gain XXX
CHHELU GOVALIYA
(Querist)
04 October 2013
PLS ADVICE DETAILS
CA Pallav Singhania
(Expert)
04 October 2013
Total exp. + Cost of the land /4
=500000+1500000/4
=500000
Sale Consideration 725000
less: Cost 500000
Short Term Capital Gain: 225000
No Exemption in respect of Short term Gain will be allowed...
=500000+1500000/4
=500000
Sale Consideration 725000
less: Cost 500000
Short Term Capital Gain: 225000
No Exemption in respect of Short term Gain will be allowed...
CHHELU GOVALIYA
(Querist)
04 October 2013
but sale flate agreement is rs. 190000 only
pls guide
pls guide
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