Regarding sale of property
This query is : Resolved
manish i. darji
(Querist)
11 June 2014
dear Sir,
if i sold my property ( flate ) , then how much amount should i take in cash & cheque from party
if i sold my property ( flate ) , then how much amount should i take in cash & cheque from party
11 June 2014
doesnt matter as for income tax purpose sec 50C will be taken as amount rec by u for cal of capital gain tax.
manish i. darji
(Querist)
11 June 2014
for example : if i sold property in 20lacs & against it i purchase worth Rs. 30 lacs thn what ?
11 June 2014
then u will get 30 lakhs exemption u/s 54 but the capital gain will be cal as per valuation taken by stamp valuation authority for the purpose of stamp duty payment.
manish i. darji
(Querist)
11 June 2014
thank you very much sir
11 June 2014
you are welcome manish................................
CA UMESH DULAL
(Expert)
11 June 2014
Do not go for black and white. Try to create wealth by paying tax.
Nikhil Kaushik
(Expert)
11 June 2014
dear tushar,
exemption amount cannot exceed the sale amount.
exemption amount cannot exceed the sale amount.
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