If well sell property below dlc rate

Tax queries 306 views 3 replies

My uncle Selling a Plot  But thing is Market value is Half than  DLC value     

So Long term capital gain would be on DLC  RATE or  Amount Receive which is Half amount of DLC      ? 

Very Important Qeustion 

Best way to  Minimaize Capital gain TAX ( I knw about nhai/rec bond and Inflation index) 

 

 

Replies (3)

Long term capital gain would be on DLC  RATE

Ok silly question  Bt have to ask someone said  

government (URBAN IMPROMENT TRUST)  allotted plots by lottery  Thus No Tax  on lottery allotted    

This is not True right  ?     

Nothing is more dreadful or silliness than Ignorance.

Comming to last query, First I am not aware about any such lottery allotment. (of LAND)

As far as taxability of any lottery is concern, its specifically taxable at higher rate.

But if any special scheme, under or for weaker section, wherein Government announce any such exemption; then the same would be annouced by its Notification.


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