Capital gain
This query is : Resolved
19 January 2012
Hi
Can seller pay the stamp duty charges himself on sale of property instead of buyer and then claim it as expenditure on transfer of sale and thus reduce the sale consideration on sale of property. This will reduce capital gain tax. Does Income Tax Act allows such benefit to be claimed, if so under what provision. Is there any evidence available like case law or any write up etc to demonstrate such an adjustment.
Can seller pay the stamp duty charges himself on sale of property instead of buyer and then claim it as expenditure on transfer of sale and thus reduce the sale consideration on sale of property. This will reduce capital gain tax. Does Income Tax Act allows such benefit to be claimed, if so under what provision. Is there any evidence available like case law or any write up etc to demonstrate such an adjustment.
19 January 2012
In case of Sale deed the purchaser is liable to pay the duty.. And so seller cannot pay the duty.
Also the buyer will claim such expenses as cost of aquistions in future when he sells the property.
in case of sale deed purchaser is liable to pay stamp duty. In case of lease lessee, In case of power of attorney executing party, In case of Certificate of sale on auction of property the purchaser, In case of exchange deed both parties equally, In case of partition deed, all the parties in proportion to their share are liable to pay stamp duty
Also the buyer will claim such expenses as cost of aquistions in future when he sells the property.
in case of sale deed purchaser is liable to pay stamp duty. In case of lease lessee, In case of power of attorney executing party, In case of Certificate of sale on auction of property the purchaser, In case of exchange deed both parties equally, In case of partition deed, all the parties in proportion to their share are liable to pay stamp duty
Guest
Guest
(Expert)
19 January 2012
Capital gain tax can be reduced by seller by paying stamp duty and claiming as transfer expenses.
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