Rural property
This query is : Resolved
03 June 2013
A House property exists on huge land (17 gorunds) in city outskirts (purchased as agricultural land 20 years back and built thereon) Now under sale proposal any wealth tax implications apart from LTCG liability?
03 June 2013
Wealth tax liability arises when the asset is being held on the valuation date i.e. on 31.03.20XX.
.
So question of wealth tax may arise on the valuations dates prior to the sale of such property.
.
The nature of property, whether residential or commercials, matters in deciding the implications of wealth tax.
.
Please specify the exact nature of the property whether residential/commercial/let out/ vacant etc in more detail.
.
.
So question of wealth tax may arise on the valuations dates prior to the sale of such property.
.
The nature of property, whether residential or commercials, matters in deciding the implications of wealth tax.
.
Please specify the exact nature of the property whether residential/commercial/let out/ vacant etc in more detail.
.
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
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TDS AND ITR ISSUE
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
