Regarding sale of property
This query is : Resolved
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.
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.
11 June 2014
thank you very much sir
11 June 2014
you are welcome manish................................
11 June 2014
Do not go for black and white. Try to create wealth by paying tax.
11 June 2014
dear tushar,
exemption amount cannot exceed the sale amount.
exemption amount cannot exceed the sale amount.
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
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
