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Capital gain


RAMDAS (PROPRITER)     26 March 2012

RAMDAS
PROPRITER 
 33 points

| My Other Post

Dear all ,

Where the immovable asset acqiured by way of exchange for another immovable asset  without cosideration.

Details:

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.

Thanks,

 

 

 

 

 

 

RAMDAS (PROPRITER)     08 April 2012

RAMDAS
PROPRITER 
 33 points

View Profile | My Other Post

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.


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