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
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.
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