Query on Capital Gain Tax

438 views 5 replies

Dear All,

I have a question on Capital Gain Tax and would be greatful if you could advise me.

The total consideration for the flat was 40lacs and it was split as 30 for the flat (agreement cost) and rest (10) for the furniture. The gain from this deal is long term capital gain as I had bought the flat more than 5 years ago.

I am buying a new flat where I would use the sum received from the above deal. I wish to know if the money I received for the furniture is taxable at all or not.

Thanks & Regards,

Nikhil

Replies (5)

since furniture is part of flat it shold be included in the cost so it can be taxable as long term capital capital gain tax

Thanks Valji for the reply. I have not mentioned the furniture etc in the agreement / sale deed for the flat. The deal for the flat was done with agreement cost only (30L). the rest of the amount has nothing to do with the flat as it is not mentioned in any document.

would it still be taxable as the long term gain?

 

Thanks & Regards

Furniture are personal effects and r not chargeable to tax n its also not mentioned in d agreement.

since it is not in agreement so not chargale to tax

Thank you both for your valuable feedback!


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details