Hello All,
I have sold a land which was inherited from my father. the agreement value is less than the stamp value assessed for the property. Now my question is for calculating LTCG income tax will take stamp value assessed as consideration or the actual consideration. as per Sec 50C it says stamp value, but the actual transaction is quite less than the stamp assessed value.. please advise any way to save LTCG as tax will be much higher in case of stamp assessed value.
Menu
LTCG calculation on sale of Land
Replies (2)
Just invest capital gain in NHAI bonds or purchase any residential property you will be exempt in paying tax on long term capital gain, bcoz if you not calculate tax as per stamp value and in future your case selected for scruitiny then you have to pay tax with interest so better to invest your capital gain in NHAI bonds, you will get interest every year and after some years your money will be back.
for more information contact any Chartered accountant
for more information contact any Chartered accountant
thanks. but only when my file is in scrutiny the officer will check not before that
Recent Threads
- TDS - requirement of TDS by individual under presu
- Built a tool to automate Bank Statement to Tally e
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
- Hiring Company Secretary Manager with 2 Years of P
- Updated Return _ Deduction
Related Threads
CAclubindia
