Incometax
This query is : Open
09 July 2013
I PURCHASE FLAT IN 1983 AND I SOLD IT IN APR 2012 FOR 30LACS AND PRUCHASE NEW RESIDENTIAL UNIT FOR 38LACS IN AUG 2013 MY QUESTION IS AS FOLLOW
1-WILL I BE EXEMPTED FOR CAPITAL GIAN TAX
2-I HAVE PAID RESGISTRATION FEES OF 30,000 AND STAMPDUTY OF RS 190000/- WILL IGET DECDUCTION OF IT IN MY INCOME TAX RETURN AND TILL WHAT LIMIT
3- AS MY FORM 16 IS NOT RECVD CAN I FILE THE RETURN AFTER 31 JULY 2013
1-WILL I BE EXEMPTED FOR CAPITAL GIAN TAX
2-I HAVE PAID RESGISTRATION FEES OF 30,000 AND STAMPDUTY OF RS 190000/- WILL IGET DECDUCTION OF IT IN MY INCOME TAX RETURN AND TILL WHAT LIMIT
3- AS MY FORM 16 IS NOT RECVD CAN I FILE THE RETURN AFTER 31 JULY 2013
10 July 2013
Purchase price in 1983 has not been given.
1. Yes no Capital Gain Tax as you have reinvested all the sale price.
2. These expenses shall be accounted for to calculate Capital Gain Tax on sale of New Residential Plot purchased for 38 Lacs. However,be sure that you have actually done these expenses. In case of India it is the buyer who pays such expenses but on record it is in the name of Seller.
3. You can e-file your Return without getting Form 16 but believing on Form 26AS.
You can report the matter to Income Tax Authorities against your Employer for not delivering Form 16. UFF reporting against Employer is not practical so try to get the contents of Form 16. You can e-file ITR after 31.7.2013. But e-file it without waiting for the last date.
contact@vkbajaj.co.in
1. Yes no Capital Gain Tax as you have reinvested all the sale price.
2. These expenses shall be accounted for to calculate Capital Gain Tax on sale of New Residential Plot purchased for 38 Lacs. However,be sure that you have actually done these expenses. In case of India it is the buyer who pays such expenses but on record it is in the name of Seller.
3. You can e-file your Return without getting Form 16 but believing on Form 26AS.
You can report the matter to Income Tax Authorities against your Employer for not delivering Form 16. UFF reporting against Employer is not practical so try to get the contents of Form 16. You can e-file ITR after 31.7.2013. But e-file it without waiting for the last date.
contact@vkbajaj.co.in
Message likes :
1 times
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Oct 2025 Invoices
- MSME disclosure and disallowance
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
