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Capital gain on resale

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prop.
24 Points Posted on 01 November 2021
one of my client purchased a agriculture land in new mumbai and in 2017 GOI compulsory takeover the land and give residential plot in compensestion to comulsary acquisition and now my client wants to sale those residential plot
please provide tax impact of the same.....
thanks
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On 01 November 2021 at 10:42 Report
Replies (8)
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Chartered Accountant
24588 Points Posted on 01 November 2021
LTCG will arise
1 Reply
On 01 November 2021 at 12:34
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prop.
24 Points Posted on 01 November 2021
Sure?
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On 01 November 2021 at 12:37
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CA
10436 Points Posted on 01 November 2021
Yes sure, LTGC will arise.
2 Reply
On 01 November 2021 at 14:11
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Chartered Accountant
24588 Points Posted on 01 November 2021
Yeah...
1 Reply
On 01 November 2021 at 14:18
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CA
10436 Points Posted on 01 November 2021
Don't worry
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On 01 November 2021 at 20:49
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Profession Business
28207 Points Posted on 02 November 2021
Transfer of capital asset leads to capital gain .
Here the resident individual has not mentioned in the query when he has acquired the plot . He has sold the plot but the exact date is not mentioned.
So LTCG CONCLUSION CANNOT BE MADE.
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On 02 November 2021 at 06:25
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Chartered Accountant
24588 Points Posted on 03 November 2021
LTCG will arise
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On 03 November 2021 at 13:00
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Profession Business
28207 Points Posted on 05 November 2021
YOU CANNOT COME TO AN ACCURATE VALUATION OF THE LTCG , SO ITS IRRELEVANT.
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On 05 November 2021 at 11:41


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