Cost of acquation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2013
HI FRIENDS,
i have purchases a house property in the name of huf in last 07 year . Rs. 50 LAC. AND TODAY I WANT TO SELL THE PROPERTY RS. 2 CR. AND I HAVE VALVED THE PROPERTY AS ON 31 MARCH 2013 RS. 1.5 CR. SO PLS ADVICE ME ABOUT TAXATION AND LTCG OR STCG. AND TAXABLE AMOUNT
AND I WANT TO PURCHASES NEW PROPERTY IN THE NAME OF INDIVIDUAL ONLY .
PLS SUGGST.
i have purchases a house property in the name of huf in last 07 year . Rs. 50 LAC. AND TODAY I WANT TO SELL THE PROPERTY RS. 2 CR. AND I HAVE VALVED THE PROPERTY AS ON 31 MARCH 2013 RS. 1.5 CR. SO PLS ADVICE ME ABOUT TAXATION AND LTCG OR STCG. AND TAXABLE AMOUNT
AND I WANT TO PURCHASES NEW PROPERTY IN THE NAME OF INDIVIDUAL ONLY .
PLS SUGGST.
07 August 2013
1. The year of purchase is not clear from your query. Is it 2007?
2. Asset which is held for less than 36 months is a short term capital asset and held for more than 36 months is long term capital asset.
3. The new property has to be purchased in the name of the assessee who sold the property. Accordingly the new property will have to be purchased in the name of the HUF.
2. Asset which is held for less than 36 months is a short term capital asset and held for more than 36 months is long term capital asset.
3. The new property has to be purchased in the name of the assessee who sold the property. Accordingly the new property will have to be purchased in the name of the HUF.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- LIC maturity claim whether taxable
- Journal entry of busniess expenses
- GST Rate for Catering Services
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
