Transfer of property
This query is : Resolved
19 February 2015
A HOUSE PROPERTY IS LEASED FOR A PERIOD OF 999 YEARS WITH A RENEWAL OPTION AT THE END OF LEASE PERIOD. LEASE RENT WAS RECEIVED AS A LUMP SUM AMOUNT. WHETHER SUCH LEASE IS AN TRANSFER U/S 2(47) OF INCOME TAX ACT, 1961 AND THE AMOUNT RECEIVED IS SUBJECT TO CAPITAL GAIN?
19 February 2015
https://www.exploreincometax.com/Indian-Income-tax-Act-1961/Section-2-47
in case of lease there is no "trasnfer" as per income tax act sec 2(47).
in case of lease there is no "trasnfer" as per income tax act sec 2(47).
Message likes :
1 times
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
- Relief u/s Section 89
- STCG FOR GOLD ETFs
- GST ON DAMAGED GOODS
- Agriculture income or business income
- Taxation on LTCG for property sold after 24JUL2024
- Specified Profession
- REGARDING GST LIABILITY/....
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
