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Capital gain

20 May 2015

One of our client had purchased a property on 20.03.2011 for Rs. 15,00,000/- He sold the same for Rs. 18,00,000/- on 06.03.2013 for Rs. 18,00,000/- and paid the capital gain on slab rate basis But in the financial year 2014-15 dated 01.06.2014 he cancelled the sale agreement and refunded the whole Rs.18,00,000/-. He than again sold the same property for Rs. 21,00,000/- on 06.06.2014 � How to calculate Capital Gain for the financial year 2014-15. What will be the gain short term or long term and whther indexation cost of benefit will be available on Registration Charges, Stamp duty Exp. and other Exp. � Please help me.... �

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2 Replies

(Guest)

The benefit of stamp duty registration will be availed by the purchaser as he pays for it.

In my opinion since he has already paid STCG tax on the earlier transaction he should now pay stcg tax on 3 lakh (21-18L)

CHIRAG RANGNANI (ARTICLE) (39 Points)
Replied 21 May 2015

Can we show it as a long term capital gain and avail benefit of cost of indexation the property was purchased in 2011 and sold in 2014 after 36 months and file return as long term capital loss