LTCG for property sale
This query is : Resolved
25 June 2022
1) From AY 2022-23, when filing LTCG for property sale we need to put the ‘Date of Purchase/ Acquisition’. In case of sale of inherited property where the date of purchase is usually not clear *which could be in 1960s or before, what do we fill for the ‘Date of Purchase/ Acquisition’’ ?
Valuation of the property as of 01Apr-2001 has been done by a registered valuer.
2) While calculating LTCG for property sale, what are the types of expenditure that can be put under the heading ‘Expenditure for this transfer/sale’ ?
Valuation of the property as of 01Apr-2001 has been done by a registered valuer.
2) While calculating LTCG for property sale, what are the types of expenditure that can be put under the heading ‘Expenditure for this transfer/sale’ ?
25 June 2022
Refer the property documents date of purchase will be there. If not available put your date in 1960.
No registered valuer required. Contact the registration office or document writer he will tell the market value from the registered documents.
Brokerage commission can be shown as expenditure.
No registered valuer required. Contact the registration office or document writer he will tell the market value from the registered documents.
Brokerage commission can be shown as expenditure.
27 June 2022
OK. Now on checking the Ground plus 1st Floor was built in 1959 and then after taking permission from Municipal Corp, 2nd Floor and 3rd Floor was constructed in 1990. The flats sold are 1st floor and 3rd Floor together to the same party. Which year's date to be considered for LTCG filing?
27 June 2022
Consider 1959 date for filing.
07 July 2022
For calculation of LTCG 2001 would be applicable
07 July 2022
Thank you to both of you
09 July 2022
Most welcome...
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Eway bill for machinery reparing
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Registration as Authorised Representative of minor
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
