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I want to know the TAX Planning for my client. Can you plz help me out from following details?
Fact of the Case:
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How to save Tax for Builders
Replies (4)
if purchase land is old more than 3 years than it will be LTCG and you can invest this in purchasing new land from your LTCG or you can invest in Bond but maximum up to 50Lacs in Bond.
You can decrease your registration value or you can show more expense for construction…
If land is more than 3 years old than you will get benefit of cost inflation index…
My client is builder. It is a business for them. Registry value can't be decreased as it is the value under stamp act
| Originally posted by : CA Priyank | ||
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My client is builder. It is a business for them. Registry value can't be decreased as it is the value under stamp act |
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Registrar can ask you for the stamp duty at the rate defined by the concerned state goverment. Actual deal can be lower than the rate prescribed by the government. You need to justify the transaction value to the ITO which is lower than the rate defined by the state government.
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