Section 50c is applicable if there is capial loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2014
my client has sold house for rs 1cr and index cost of acquatation is rs 1.2 cr and market value as per stamp duty is 5cr. is my client is liable to pay ltcg on rs 3.8 cr or 50c is not applicable if calculated capital gain is loss?
Nikhil Kaushik
(Expert)
27 June 2014
yes 50C is applicable...please note that capital gains are arrived at after application of 50C and not before. in this case, 3.8 cr shall be cap gains.
Rupesh Jain
(Expert)
27 June 2014
section 50C is always applicable if is is loss or profit.
07 July 2014
profit or loss doesnt decides the applicability of sec 50C
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