Ltcg on shop sale

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This query is : Resolved

Sanjay I Thacker (Querist)

01 August 2019 1. WE HAVE RECEIVED 2 SHOPS IN VARSAI FROM OUR FATHER (LEASE HOLD 99 YEARS) @ RS. 15000.00, 50% IN EACH BROTHER'S A/C (7500 + 7500)

2. IN 2008 50% PART OF ONE BROTHER PURCHASE BY ANOTHER @ 200,000.00 FOR EACH SHOP

3. I HAVE PURCHASE ANOTHER SHOP ONE MONTH BEFORE SALE OF TWO SHOPS IN 2018 @ 1600,000.00

4. IN 2018 I SALE TWO SHOPS @ 3000,000.00, AT WHICH RATE SHOULD I COMPUTE LTCG (I.E. AT VARSAI TRANSFER RATE OR RATE AS PER REGISTRY DONE IN 2008)

5. CAN I GET LTCG BENEFIT FROM PURCHASE OF NEW SHOP AGAINST SALE OF TWO SHOPS

THANKS FOR YOUR REPLY IN ADVANCE

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

01 August 2019 YOU CAN'T GET LTCG BENEFIT FROM PURCHASE OF NEW SHOP AGAINST SALE OF TWO SHOPS.
COMPUTE LTCG AT VARSAI TRANSFER RATE FOR ONE SHOP AND RATE AS PER REGISTRY DONE IN 2008 FOR ANOTHER SHOP.

Sanjay I Thacker

Sanjay I Thacker (Querist)

01 August 2019 I cant get benifit due to commercial property ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

01 August 2019 Yes ......................................................

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