Capital gain

Respected members,

I would like to know whether capital gain tax is applicable or not in this case. Suppose owner of the home gave it on rent before 25 years.after the death of owner their nominees became the owner. Now tenant is not vacanting the home as under tenancy right. So assesse transfer the property (home)  to tenant at a very low price compare to fair value or market value..also cost of property is nt ascertained as it was purchased by forefathers. My question is that whether assesse is liable to capital gain considering the zero cost of purchase and sales/settlement with the tenant at a very low price which is less than fair value or market value..?if yes then the what will be value of consideration?  Is it fair market value or actual consideration?

 Assist me.. Thanks.. 

Replies (1)
In this case determine the FMV of 2001 and this will be the cost of acquisition and sale consideration will be the actual sale consideration thus there will be the LTCL if cost of flat is more than actual sale consideration.

Also there will be income under IFOS head u/s 56 (2) in the hands of tenent on difference between the fmv and actual sale consideration as immovable property were acquired at lower then the FMV.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details