Computation of capital gain on series /emi payments
This query is : Open
16 October 2014
The Assessee has paid to book a flat as under:
1. A Y: 2009-10-Rs.6,00,300/- (w.e.f. 11/02/2010)
2. A Y : 2010-2011 – Rs. 9,44,920/-
3. A Y : 2011-12 - Rs.13,77,466/- and
4. A Y: 2012-13 – Rs. 2,80,140/-(last: 13/08/2014) –
Total Rs.32,02,826/- paid up.
On cancellation due to delivery failure in 36 Months on 01.07.2014 the Builder paid Rs.43,23,398/-. Will you advise how to compute Capital Gain?
Thanks
VAPIWALA S G
1. A Y: 2009-10-Rs.6,00,300/- (w.e.f. 11/02/2010)
2. A Y : 2010-2011 – Rs. 9,44,920/-
3. A Y : 2011-12 - Rs.13,77,466/- and
4. A Y: 2012-13 – Rs. 2,80,140/-(last: 13/08/2014) –
Total Rs.32,02,826/- paid up.
On cancellation due to delivery failure in 36 Months on 01.07.2014 the Builder paid Rs.43,23,398/-. Will you advise how to compute Capital Gain?
Thanks
VAPIWALA S G
17 October 2014
can u explain abt the excess amt that is approx 10 lacs, nature........ Interest or compensation?
19 October 2014
The amount is compensation. So do we treat it as Capital Gain? Or as revenue income?
Pls revert back.
Thanks
Pls revert back.
Thanks
19 October 2014
The amount is compensation. So do we treat it as Capital Gain? Or as revenue income?
Pls revert back.
Thanks
Pls revert back.
Thanks
19 October 2014
The amount is compensation. So do we treat it as Capital Gain? Or as revenue income?
Pls revert back.
Thanks
Pls revert back.
Thanks
19 October 2014
The amount is compensation. So do we treat it as Capital Gain? Or as revenue income?
Pls revert back.
Thanks
Pls revert back.
Thanks
19 October 2014
Pls revert with the matter as compensation and how treat in the I Tax Act.
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