land exchange

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student
29 Points Posted on 01 August 2018
Mr.A exchanged his land worth 59,00,000 with Mr.B and inturn he took a land from Mr.B which worth 1crore.....what is the tax treatment....
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On 01 August 2018 at 11:18 Report
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Guest
I think 1 crore will be considered as his full sale consideration and mr.A has to calculate its capital gain.
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On 01 August 2018 at 11:50
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student
29 Points Posted on 02 August 2018
tax treatment in the hands of mr.B???
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On 02 August 2018 at 09:48
Guest
l think mr.B has capital loss.
bcoz.mr.B got land of 5900000 inexchange of land worth ₹1 cr.
here both are selling the land and purchasing the another land at the same time.
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On 02 August 2018 at 10:31
Guest
The first step in how to calculate long-term capital gains tax is generally to find the difference between what you paid for your property and how much you sold it for—adjusting for commissions or fees. Depending on your income level, your capital gain will be taxed federally at either 0%, 15% or 20%.
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On 01 October 2018 at 08:40

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