Dc rate of property.
This query is : Resolved
02 September 2014
Sir,
One of our client want to take(Purchase) a running company. in the company in fixed asset there is a plot costing Rs. 95.00 lakh (Cost Price). When we take over the company, can we take it cost price or DC Rate. what effect on taxation purpose we take this plot at cost price Rs. 95.00 lakh. Plz ans ungently basis sir.
One of our client want to take(Purchase) a running company. in the company in fixed asset there is a plot costing Rs. 95.00 lakh (Cost Price). When we take over the company, can we take it cost price or DC Rate. what effect on taxation purpose we take this plot at cost price Rs. 95.00 lakh. Plz ans ungently basis sir.
CA R SEETHARAMAN
(Expert)
02 September 2014
Take it at market price so you can avoid to that extent capital gain tax when you sell it.
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