banner_ad

Relief in tax liability in capital gain

Tax queries 410 views 2 replies

hiee all

Assesse has a XYZ property which he sold for Rs. 1 Cr. in A.Y. 2014-15. he had mad sale agreement for the same. Stamp Duty for the same is paid and Advance token of Rs. 10L is recived during the same period. what would be its tax Liability as LTCG for the A.Y. 2014-15. Further he has not recevied any payment installment in A.Y. 2014-15.

 

Replies (2)
I think agreement has made so capital gain would be calculated on rs. 1 crore even though payment is not received. He can claim exemptions under section 54.

Assuming TRANSFER took place in PY 2013-14

Total Consideration received - Rs. 1 Cr (Add the difference amount, if Stamp duty "Value" is more than 1 Cr.)

Less

1. Indexed cost of aquisition - Rs. XXXXX

Net - XXXX (Capital gain)

Tax @ 20.6% on capital gain

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details