I am a member of a housing co operative society since 2015. in West Bengal , now I want to sale my membership at a profit ( Vacant Land)
can I claim Long term capital gain ?
please describe
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Profit from sale of HOUSING CO OPERATIVE SOCIETY MEMBERSHIP
Replies (1)
Yes, ltcg will arise. Your share in the cost of acquisition of the vacant land will be the cost of acquisition and, indexetion will be available for the purpose of computation of ltcg. Section 50C will apply. Benefit of section 54F or 54EC may be taken, if required. This is my view.
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