Tax implication
This query is : Resolved
11 January 2014
My Father Purchased House In 1980 In Chawl System In 1980 In Rs.10000, On Death Of Him I GOt That In 1995. In 2010 House Went Under SRA (Slum Rehabitation) And I Got Flat Which I Sold In 31.07.2013 In Rs. 35,00,000 SO whether Capital Gain will attract me or what the index cost of acqution for me calculating capital gain
Thank You
Thank You
11 January 2014
1. yes capital gains are applicable.
2. the cost is to be determined as the fair value as on 1 april 1981 or th original cost Rs 10000 whichever is higher..
3. indexation is to be applied on the cost arrived as per point 2.
2. the cost is to be determined as the fair value as on 1 april 1981 or th original cost Rs 10000 whichever is higher..
3. indexation is to be applied on the cost arrived as per point 2.
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
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Rent lease agreement
- Relief u/s Section 89
- REGARDING SECTION 44AE
- GST ON DAMAGED GOODS
- STCG....................................................
- Merchant Export Accounting
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
