I have a query on Capital Gain:
‘A’ purchased for Rs. 37,50,000/- via an Agreement a property in Feb 2006 which was under construction at that time. The property was ready in 2009 and Occupancy Certificate was given in that year(2009). The Sale Deed was made in August 2011. And ‘A’ paid Rs. 300,000/- towards Stamp Duty & registration charges for same in 2011.
In March 2012, ‘A’ sold that property to ‘B’ for Rs. 39,00,000/- and Sale deed was executed accordingly.
‘B’ paid Rs. 2,00,000/- towards Stamp duty & Registration charges.
Now my Queries are:
1. What is the Cost of Acquisition for ‘A’ When he sold that property to ‘B’?
2. When does the transfer of that property takes place when ‘A’ purchased that property?
3. What is the Capital Gain/Loss to ‘A’ ?
4. What will be the Cost of Acquisition to ‘B’ when he sales that property?
please suggest.
CAclubindia
