Long-term capital gain on agreement with joint development u/s 45 (5A)
This query is : Resolved
Quick Summary
30 March 2023
MR A.PURCHASED A RESIDENTQAIL LAND AS ON 10.06.1972 FROM SBI HOUSING SOCIETY. COST RS. 37505/ TOTAL TXTENT 4065 SQ.FT. AFTER CONSTRUNCTION COMKPLTED COST OF RS 75,000/- AS ON 23.10.1973..MR A HAND OVER THE POSSESTTIOIN OF PLOT TO MR Y BUILDERS AS ON 15.10.2019 ON 48 AND 52 SHARE BASIS. MR.Y COMPLETED CONSTRCUTION 10 RESIDENTAIL UNITS AND AND WILL GIVE 4 UNITS TO MR.A AS ON 16.6.2022. MR. Y WILL PAY A CHEQ.RS.45,00.000/- AS ON VARIOUS DATE. MY QUERY IS 1) THE STAMP DUTY VALUE AS ON 23.10.10973, AND STAMP DUTY VALUE OF EACH FLAT AS 0N 16.6.2022. 2) LONG TERM CAPTIAL WORKING METHOD GIVE ON THE ABOVE DETAILES.
TANKAS
TANKAS
30 March 2023
You can get stamp duty value of the land as on 01 April 2001 & 15th October 2019 from Sub-registrar office. Similarly, Stamp duty value of each flat as on 16.06.2022 or date of completion, whichever earlier, can be obtained from builder or Sub registrar office. Capital gains as on 15.10.2019 can be calculated based on these figures.
30 March 2023
thank sir
MR. Y HAS VALUED RS.45,00,000 PER UNIT. TOTAL OF 4UNIT RS.1,80,00,000/- IN TAMILNADU GOV STAMP DUTY RATE IS 7% ON FIN .YEAR 2022-23 . THE STAMP DUTY VALUE RS. 12,60,000/- . I TAKE THIS STAMP VALUE IS CALCLUTATED BASES ON CAPTIAL GAIN WORKING
TANKAS
MR. Y HAS VALUED RS.45,00,000 PER UNIT. TOTAL OF 4UNIT RS.1,80,00,000/- IN TAMILNADU GOV STAMP DUTY RATE IS 7% ON FIN .YEAR 2022-23 . THE STAMP DUTY VALUE RS. 12,60,000/- . I TAKE THIS STAMP VALUE IS CALCLUTATED BASES ON CAPTIAL GAIN WORKING
TANKAS
30 March 2023
Most welcome & Good Luck..
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