Cash payment to buy a Property.

This query is : Open

PREET (Querist)
Follow

21 May 2017 a Rs. 25lakh land purchased ,by Rs. 15 lakh in D/D and Rs. 10 lakh in cash, which withdrawn from bank in cash.Now sir my doubt is how to show that 10 lakh withdrawal in cash and paid to buy d land?and at what price land will shown,at time of transfer,to compute Capital gain/loss? Please advice Sir... thanks in advance..

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
Follow

21 May 2017 What is the document value (value as per sale deed)?

PREET

PREET (Querist)
Follow

23 May 2017 in sale deed,Rs.15 lakhs shown.

PREET

PREET (Querist)
Follow

23 May 2017 in sale deed Rs.15 lakhs has been shown ,which paid by D/D.

PREET

PREET (Querist)
Follow

24 May 2017 dear, experts,plz advice...

Studentsca

Studentsca (Expert)
Follow

24 May 2017 Only 15 lakhs is the value of land.

PREET

PREET (Querist)
Follow

24 May 2017 thanks.then how could i show the 10 lakhs withdrawn from bank?can ITO raise question on such withdrawn?

PREET

PREET (Querist)
Follow

24 May 2017 plz,advive

PREET

PREET (Querist)
Follow

24 May 2017 plz, advice...

Studentsca

Studentsca (Expert)
Follow

24 May 2017 Obtain some bills and show it cost of improvement on land like fencing, clearing etc and add it to the cost of land.

PREET

PREET (Querist)
Follow

06 June 2017 thank you Sir..

PREET

PREET (Querist)
Follow

06 June 2017 sir, my brother is providing services in ship.ANGLO ESTERN SHIP MANAGEMENT (INDIA) PVT. LTD.Address of the office(H.O.): is of Hong kong. His salary /service contract is made in USD currency.I hv get his salary certificate ,which is given by the Branch office of the company at Kolkata.He ws appointed by the branch office at Delhi He been appointed by

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now