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Exchange of Property


TEJAS AGRAWAL (Article Assistant )     21 August 2019

TEJAS AGRAWAL
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Case of Exchange of property

Residential Flat exchanged against Plots, purchase value of Flats Rs 15 Lakhs & Govt. value of plots is Rs 4-5 Lakh. Stamp Duty paid on Rs 15 Lakh. Residential Flat given within 24 months of purchase i.e. short term capital gain. Que Treatment in Income Tax.

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Kapadia Pravin   21 August 2019

Kapadia Pravin

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Gain from residential flat will be your STCG as it's within 24 months and it's taxable.

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TEJAS AGRAWAL (Article Assistant )     21 August 2019

TEJAS AGRAWAL
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Residential Flat
cost of acquisition 15 lakh
Market Value as per Ready recknoner (on date of sale) 15 Lakh

Plots
ready reckoner (on date of purchase) 4.5 Lakh

what will be the value of sale consideration to be considered ???


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