Sale of property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2015
Can anyone tell me how to deal with the matter of capital gains.
in this case one person had taken loan from people to acquire property and inorder to repay this people he alloted to them plots as per their loan amount.is he liable to pay tax
in this case one person had taken loan from people to acquire property and inorder to repay this people he alloted to them plots as per their loan amount.is he liable to pay tax
08 July 2015
You have to tell when you acquired the property and when you allotted the plots and difference in value of your purchase and your allotment.
08 July 2015
these are diff -2 transactions and you have to fix the value of property and make bal. payment.
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