Cash payment to buy a Property.
This query is : Open
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a Rs. 25lakh land purchased ,by Rs. 15 lakh in D/D and Rs. 10 lakh in cash, which withdrawn from bank in cash.Now sir my doubt is how to show that 10 lakh withdrawal in cash and paid to buy d land?and at what price land will shown,at time of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..
21 May 2017
What is the document value (value as per sale deed)?
Studentsca
(Expert)
24 May 2017
Only 15 lakhs is the value of land.
24 May 2017
thanks.then how could i show the 10 lakhs withdrawn from bank?can ITO raise question on such withdrawn?
Studentsca
(Expert)
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.
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
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