Capital gain
This query is : Resolved
02 March 2016
i had sold the flat .the registeration the flat is done on 30/03/2015 but consideration is received in the month of april 2015.i had purchased another flat on 30/8/2015.so how to calculate capital gain whether it will come under AY 2015-2016 or AY 2016-17
02 March 2016
Since the sale of property was registered on 30th march 2015, the capital gain arises in the A.Y. 2015 - 16, even though the consideration was received only in A.Y. 2016 - 17. To avoid payment of Capital Gains Tax, investment in the prescribed assets should be done within 6 months of the sale of the asset and you have complied with that section. In your ITR for 2015 - 16 you should have disclosed the Capital Gain and confirmed that you would make the investment within the prescribed time. Other conditions, if necessary should also be complied with.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Filing of Form 10BB instead of Filing Form 10B
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
