how to compute capital gain...
This query is : Resolved
12 December 2009
Dear sir,
plz suggest me how do I deal in the following situation...
one of my new office client had taken house loan 2 years back and had booked a flat under construction for 63lakhs.He in the last two years claimed deduction under 24(b) for the interest paid on the house loan.Now the flat has been in completion stage but not completed and is not been registered yet.And last month he had sold the flat for Rs 78 lakh....
plz suggest me how do I deal in the following situation...
one of my new office client had taken house loan 2 years back and had booked a flat under construction for 63lakhs.He in the last two years claimed deduction under 24(b) for the interest paid on the house loan.Now the flat has been in completion stage but not completed and is not been registered yet.And last month he had sold the flat for Rs 78 lakh....
12 December 2009
this should be taxable under the head capital gain.
it will be treated as amount relinqueshment of right,
and period is less than 3 year,
there should be STCG of rs 15 lacs
it will be treated as amount relinqueshment of right,
and period is less than 3 year,
there should be STCG of rs 15 lacs
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