Short term capital gain on property query
This query is : Resolved
22 January 2014
REGISTRY DATE OF PURCHASE FLAT IS : 06-10-2007 PURCHASE VALUE 20,20,000/- BUT STAMP DUTY PAID ON 30,00,000/-. THEN WHAT IS THE PURCHASE VALUE I HAVE TO TAKE FOR INCOME TAX RETURN RS. 20,20,000/- OR RS.30 LAKH ?
SECOND POINT
SALE CONSIDERATION IS 30,00,000/- BUT STAMP DUTY ON 40,00,000/- ON 20-08-2009. THEN SALE VALUE FOR INCOME TAX SHORT TERM CAPITAL GAIN IS RS. 40 LAKH ?
ASSESSEE HAS NOT FILED THE INCOME TAX RETURN IN THAT PARTICULAR YEAR(F.Y. 2009-10 A.Y. 2010-11). AND NOTICE RECEIVED FROM DEPARTMENT. NOW WHAT IS NEXT STEP ? WHAT IS THE PROCEDURE.
SECOND POINT
SALE CONSIDERATION IS 30,00,000/- BUT STAMP DUTY ON 40,00,000/- ON 20-08-2009. THEN SALE VALUE FOR INCOME TAX SHORT TERM CAPITAL GAIN IS RS. 40 LAKH ?
ASSESSEE HAS NOT FILED THE INCOME TAX RETURN IN THAT PARTICULAR YEAR(F.Y. 2009-10 A.Y. 2010-11). AND NOTICE RECEIVED FROM DEPARTMENT. NOW WHAT IS NEXT STEP ? WHAT IS THE PROCEDURE.
22 January 2014
Hi Sunil,
In first point u/s 50C, your purchase value would be Rs. 20,20,000
In second point sale consideration would be Rs. 40,00,000
In first point u/s 50C, your purchase value would be Rs. 20,20,000
In second point sale consideration would be Rs. 40,00,000
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
