Dear Friends,
3 years before building Purchased and registered at 55 Lakhs. Now, we will sell this property at 95 Lakhs. So, buyer will deduct 1%TDS u/s 194IA. Seller need to pay any Income Tax for Capital Gain? Seller is already having bank loan against this party as well as planning to buy new property for the same value.
mohanraj_vkj @ yahoo.co.in
Menu
Selling of Building
Replies (2)
Quick Summary
Seller is liable to pay Capital gain tax and since you are going to purchase a new residential house property you can claim that as Deduction U/S 54
Thank you so much
Recent Topics :
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
- EWAY BILL TAKE OUT OF OTHER COMPAMY
- Penalty & late fee for late ITR filing
- Business discontinued as Government took possessio
- Which Aviation Services Can Air Ticketing Professi
Related Topics :
CAclubindia
