Cost of acquisition on Permanent Alternate Accomodation
This query is : Resolved
13 August 2023
A has purchased tenancy rights from B by buying on ownership basis a flat for B in the year 2000. Thereafter tenancy was transferred by Landlord in the name of A. The Landlord redeveloped the said property and gave a flat to A in the new building by executing in the Permanent Alternate Accommodation in lieu of his A surrendering his tenancy rights. The said Agreement was executed and registered in Oct 2001. At Present A is in the process of selling the said flat.
Query?
What will be the cost of acquisition of the Alternate flat given to A?
a. The cost incurred for purchasing flat for B.
b. Market value/Stamp duty value of new flat given to A in Oct 2001.
Kindly advise.
Thanks
A has purchased tenancy rights from B by buying on ownership basis a flat for B in the year 2000. Thereafter tenancy was transferred by Landlord in the name of A. The Landlord redeveloped the said property and gave a flat to A in the new building by executing in the Permanent Alternate Accommodation in lieu of his A surrendering his tenancy rights. The said Agreement was executed and registered in Oct 2001. At Present A is in the process of selling the said flat.
Query?
What will be the cost of acquisition of the Alternate flat given to A?
a. The cost incurred for purchasing flat for B.
b. Market value/Stamp duty value of new flat given to A in Oct 2001.
Kindly advise.
Thanks
13 August 2023
a. The cost incurred for purchasing flat form B.
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
