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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.

Rupesh Jain

Rupesh Jain (Expert)
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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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