RAMDAS (PROPRITER) 26 March 2012
Dear all ,
Where the immovable asset acqiured by way of exchange for another immovable asset without cosideration.
1. Owner X having Agriculture land - Outside muncipal area with Fair market shown in exchange deed for registered is rs.500000 where as stamp duty valation is rs 350000.
2. Owner Y having Agriculture land - within muncipal area with Fair market shown in exchange deed for registered is rs.525000 where as stamp duty valation is rs 2500000.
Where the X and Y were acquired immovable asset by way of exchange deed for another immovable asset without cosideration i.e. Rs. 1 only and X paid stamp duty on STAMP DUTY valuation i.e. on Rs 2500000.
If the X sell his property to another in this case what will be cost of acquisition to calculate short or long term capital gain to X.
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RAMDAS (PROPRITER) 08 April 2012
Dear all ,
Please send any citation for
Where the transfer is by way of exchange of one asset
for another, Fair Market Value of the asset received is the Full
Value of Consideration. Where the consideration for the
transfer is partly in cash and partly in kind, Fair Marker Value
of the kind portion and cash consideration together constitute
Full Value of Consideration.