Long Term Capital Gain
This query is : Resolved
06 March 2008
Dear Sir,
Can a person transfer it's Property not fully but part of property after a long time about to 35 to 40 years is liable to capital gain ?
if there is a four partner of property than How will capital gain calculated?
is there any provision for regarding exemption of such capital gain?
The Property is in the nature of Office Building
pls. give me advise and my emil id is aranpara_ca@yahoo.co.in
Hope your reply
Thanks
Can a person transfer it's Property not fully but part of property after a long time about to 35 to 40 years is liable to capital gain ?
if there is a four partner of property than How will capital gain calculated?
is there any provision for regarding exemption of such capital gain?
The Property is in the nature of Office Building
pls. give me advise and my emil id is aranpara_ca@yahoo.co.in
Hope your reply
Thanks
06 March 2008
Details insufficient- What is the nature of property? What is the nature of transfer and so on.
07 March 2008
YES THERE WILL BE LONG TERM CAPITAL GAIN. INDEXATION WILL BE ALLOWED BY TAKING BASE YEAR 1981
07 March 2008
A DEPRECIABLE ASSET DOES NOT GET INDEXATION BENEFIT(BARRING A POWER GEN. UNIT....) AS ALSO BONDS, DEBENTURES ETC... ( WITH EXCEPTIONS)
OTHER ASSETS LIKE LAND GET INDEXATION BENEFIT(1981 AS BASE YEAR).
CAPITL GAINS NEED TO BE COMPUTED AND TAXED IRRESPECTIVE OF FULL OR PART OF PROPERTY BEING SOLD.
TO GET TAX EXEMPTION THE CAPITAL GAINS HAVE TO BE DEPOSITED IN A SEPARATE ACCOUNT AND INVESTED IN CERTAIN BONDS(SEC 54EC).
CERTAIN TRANSACTIONS FOR PURPOSE OF SEC 45 ARE NOT INCLUDED IN TRANSFER.
R.V.RAO
OTHER ASSETS LIKE LAND GET INDEXATION BENEFIT(1981 AS BASE YEAR).
CAPITL GAINS NEED TO BE COMPUTED AND TAXED IRRESPECTIVE OF FULL OR PART OF PROPERTY BEING SOLD.
TO GET TAX EXEMPTION THE CAPITAL GAINS HAVE TO BE DEPOSITED IN A SEPARATE ACCOUNT AND INVESTED IN CERTAIN BONDS(SEC 54EC).
CERTAIN TRANSACTIONS FOR PURPOSE OF SEC 45 ARE NOT INCLUDED IN TRANSFER.
R.V.RAO
11 March 2008
Dear Sir,
Can a person transfer it's Property not fully but part of property after a long time about to 35 to 40 years is liable to capital gain ?
if there is a four partner of property than How will capital gain calculated?
is there any provision for regarding exemption of such capital gain?
The Property is in the nature of Office Building and Transfer is Selling of This Building
pls. give me advise and my emil id is aranpara_ca@yahoo.co.in
Hope your reply
Thanks
Can a person transfer it's Property not fully but part of property after a long time about to 35 to 40 years is liable to capital gain ?
if there is a four partner of property than How will capital gain calculated?
is there any provision for regarding exemption of such capital gain?
The Property is in the nature of Office Building and Transfer is Selling of This Building
pls. give me advise and my emil id is aranpara_ca@yahoo.co.in
Hope your reply
Thanks
09 March 2009
it can be transferred and it will amount to capital gain tax if the same has not chrged for dep.
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