Capital gain

TDS 189 views 1 replies

528 Points Joined March 2013

My client is selling his house for 55 lacs. Buyer wants to show 40 lacs in sales deed and pay 15 lacs by cheque.

My query is:-

1. What will be the sale price for the purpose of capital gain calculation - 55 lacs/40 lacs

2. Does TDS provision apply on this transaction (1 % TDS u/s 194 IA) ?

Thanks

Replies (1)

Tax Advocate

212 Points Joined July 2013

if buyer give 55 lacs agianst property , capital gain calculated on 55 lach or registry value

and buyer give 40 lach against property and 15 lac given against other, capital gain calculted on 40 lach or registry value

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