banner_ad

Land purchase and sales transaction (same property)

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 February 2022 Sir,
It assessee purchase of vacant land rs:1,50,000/- previous f.y.2016-17. assessee this vacant land sale to Mr .B value rs:5,60,000/- dt:10-8-21 in f.y.21-22.but same land purchase from Mr.B value rs:6,40,000/- dt:10-12-21 in f.y.21-22.
Question:
1.Assessess land sales to Mr .B and same land purchase from Mr.B transaction show procedure in books and it returns.
2.capital gains tax applicable.
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
26 February 2022 1. If repurchase is through registered purchase deed, enter it as new land purchase.
2. Yes, applicable over first sale transaction.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 30 April 2026
Article Assistant

M/s G.K. Choksi & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details