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Capital Gain
If amount received by tenant is considered as sales consideration for capital gain,then what will be the cost of acquisition? Will rent paid be the cost of acquisition or will it be Nil?
Replies (9)
how can the amount received from tenant be considered as sales consideration?
It is rent the the tenant pays and it will be taxable U/H "income from house property".
It is rent the the tenant pays and it will be taxable U/H "income from house property".
how can the amount received from tenant be considered as sales consideration?
It is rent the the tenant pays and it will be taxable U/H "income from house property".
It is rent the the tenant pays and it will be taxable U/H "income from house property".
helloo
Cost of aquisition is taken as nil......... total sale proceeds is taken as long term capital gain.......
Vikas sorry I meant amt received for vacating the property by the landlord.
Thanx Dhirajlal
In that case the proper transaction what I'm getting is, landlord has paid certain amounts to tenant, then amount so received would be chargeable to capital gains tax being relinquishment of rights which amounts to transfer under 2(47).
however will be taxed as LTCG if holding morethan 36 months being immovable property otherwise STCG.
however will be taxed as LTCG if holding morethan 36 months being immovable property otherwise STCG.
differences b/w specified, speculative, non speculative business with examples
yeah thnx Vikas Agarwal
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