Long term Capital Gain on Commercial Property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2010
Mr A sold commercial property at circle rate value for Rs 67,00,000.
The Stamp Duty Rs 6,00,000/- was paid by the seller.
What will be the impact on long term capital gain calculation.
& what would be the treatment in income tax of the amount of stamp duty paid by seller on the seller
The Stamp Duty Rs 6,00,000/- was paid by the seller.
What will be the impact on long term capital gain calculation.
& what would be the treatment in income tax of the amount of stamp duty paid by seller on the seller
13 May 2010
The Stamp Duty of Rs.600,000 will be deducted from the Gross Consideration received as expenses incurred in relation to transfer. Balance amount would be considered for computing the long term capital gain.
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
