Purchase of flat query
This query is : Resolved
Quick Summary
16 April 2020
If a person has purchased flat of rs. 6900000 without sale of any flat. In this case purchased flat entry will come under capital gain schedule or any other schedule?
CA PARAS BAFNA
(Expert)
16 April 2020
First of all confirm whether TDS has been deducted on the purchase transaction or not.
This will not come under Capital Gains Schedule.
This is a Fixed Asset and may be reported under the schedule of FA in a case where ever there is a requirement to report such purchase.
This will not come under Capital Gains Schedule.
This is a Fixed Asset and may be reported under the schedule of FA in a case where ever there is a requirement to report such purchase.
KAVIRAJA ADDANGADI
(Expert)
19 April 2020
mere purchase of flat not comes under CG
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