IT - Sale of property
This query is : Resolved
Gopalakrishnan V
(Querist)
23 April 2022
Individual bought land for 10 lakhs during 2005. Individual rented the land to a Private limited company in which that individual is a Director and the private limited company constructed building for Rs 25 lakhs during 2016 in the land and claimed depreciation for the building. Individual sold the land with building for Rs. 100 lakhs during 2021. Kindly clarify the long term capital gains.
CA R SEETHARAMAN
(Expert)
23 April 2022
Long term Capital gains= Rs 100 lacs - indexed cost of land.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
