If any HUF have income from sale of flats constructed by it and pay stamp duty on sale amount. and it also have income from other sources, house prperty etc. then i want know the treatment of stamp duty paid by it. and how to calculate the tax due on its income whether under section 44 AD or under normal provisions.??? plz help me out...i m unable to apply theroretical knowledge on this topic...
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income tax
Replies (4)
Capital Gain Can be calculaed on sale of flats & stamp duty paid on sale (transfer cost) has been less from Sale Consideration.
&
Other Sources & House property Income can be cacluated Simply as well as individual
thanks himanshu.....can we use section 44 AD in this case???
stamp duty paid by huf will reduce the amount of sale consideration while calculating the capital gain
Section 44AD can Be applicable for Civil contractor
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