Relating to sale of land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2014
Two person buy a land and divide it among themselves later one person wanting to sale the land sells to other.
Now the other person wants to sell the whole land how will the cost of acqusition will be calculated and how to treat the transaction
Now the other person wants to sell the whole land how will the cost of acqusition will be calculated and how to treat the transaction
24 June 2014
what is the cost , year of acquistion and year of sale etc give all details.
Rupesh Jain
(Expert)
25 June 2014
purchase value is cost of acquisition and year in which you buy.
it long term capital gain (LTCG)when you sell after the 3 year of purchase date
otherwise it consider as short term capital gain and add in you other income.
in case of LTCG
sale price - purchases cost x sell ing year index/but year index= LTCG
it long term capital gain (LTCG)when you sell after the 3 year of purchase date
otherwise it consider as short term capital gain and add in you other income.
in case of LTCG
sale price - purchases cost x sell ing year index/but year index= LTCG
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
