Stamp duty querrrry?? experts pls help
This query is : Resolved
18 June 2011
Hello sir!
When stamp duty is born by buyer fr 2,26,000 n then is reimbursed legally frm seller of Rs1,13,000 (50%)then
for seller wther such stmp duty paid is allowed to deduct frm Cal of capital gains .
Pls gve d reasons fr ur ans?
Thank you in adv.
Your timely response would be great help!
When stamp duty is born by buyer fr 2,26,000 n then is reimbursed legally frm seller of Rs1,13,000 (50%)then
for seller wther such stmp duty paid is allowed to deduct frm Cal of capital gains .
Pls gve d reasons fr ur ans?
Thank you in adv.
Your timely response would be great help!
ABHISEK TOSNIWAL
(Expert)
20 June 2011
Dear Tushar,
When a seller sells his capital assets then he can claim expenses on transfer as deduction in arriving capital gains.In this case of yours you can take a view that stamp duty charges were directly attributable to transfer of the capital asset and could claim as expenses on transfer.
Regards.
When a seller sells his capital assets then he can claim expenses on transfer as deduction in arriving capital gains.In this case of yours you can take a view that stamp duty charges were directly attributable to transfer of the capital asset and could claim as expenses on transfer.
Regards.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
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
