Under construction Property purchased by Party A from builder but due to financial issue builder transfer that property to Party B and party B paid to party A 53lakh in 13 june 2013 and 7lakh to bulder in 4 years and party B also paid interest for 10years amt 23lakh from bank loan also paid stamp duty amt 2.5lakh on 9.9.2021 which registration date. Builder given possession letter date 21.11.2020.
1)My query is what will be date of acquisition
2) Interest amount will be add in purchase property amt
3) 24b calim for 3year then after not claim then rest year can I add in purchase property amt
4)tax regime 20% and 12.5 anyone can I choose?
Menu
Capital gain purchase date
Replies (1)
1) Date of acquisition is 09/09/2021
2) Interest paid till 09/09/2021 can be added to cost of acquisition.
3) If you have not claimed interest under 24b, it does not mean you can add it to cost of acquisition. So, you cannot add interest paid after 09/09/2021 to cost of acquisition.
4) As the sale happened before 22nd July 2024, LTCG tax rate at 20% with indexation is applicable.
Recent Topic
- LTCG on unlisted foreign shares acquired in inheri
- SBI Funds Management IPO Allotment on July 17: Lis
- PF Final settlement shown in Salary Form 16 FY 26-
- ITR3 online utility: Part B TTI is populating fiel
- Sale of rural agriculture land
- How to show Capital Gain on gifted property
- TIS Glitch Alert : inflated summary
- IT returns of partners
- Challan status in Payment Failed but amount deduct
- Sec 54 exemption
Related Topics
CAclubindia
