Capital gains
Neha Bhattar (none) (170 Points)
26 April 2014Neha Bhattar (none) (170 Points)
26 April 2014
Arpit Pachisia
(CA)
(734 Points)
Replied 26 April 2014
Hello,
As in the case provided the land is sold for Rs. 60 lacs but registry is made for Rs. 4 lacs only.
Here when survey was conducted by the ITO, they valued the land for Rs. 20 lacs. So the difference between the indexed cost and Rs. 20 lacs will be considered as the amount of Capital gain. Seller had to reinvest the whole amount equal to the capital gain.
difference amount of Rs. 16 lacs will not be considered as gift in the hands of B, rather he had to pay capital gain on the same property.
Thanking You
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 27 April 2014
Neha Bhattar
(none)
(170 Points)
Replied 27 April 2014
CA Ronak Doshi
( )
(234 Points)
Replied 27 April 2014
caaspirant
(349 Points)
Replied 27 April 2014
Neha Bhattar
(none)
(170 Points)
Replied 28 April 2014
ravi bansal
(M.Com)
(34 Points)
Replied 29 April 2014
Neha Bhattar
(none)
(170 Points)
Replied 29 April 2014
ravi bansal
(M.Com)
(34 Points)
Replied 29 April 2014
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India