Long term capital gain on plot sold
This query is : Resolved
15 September 2012
Mr.A sold a plot which he got from ancestor i.e.his father for Rs.70,00,000/- the cost of acquisition is NIL.... So please advise me at what rate and under which provision will the LTCG be taxed???? please help me asap....
15 September 2012
You have the option of COST to PREVIOUS OWNER or cost as on 1/4/1981 as the cost of acquisition. Get the valuation done by the Govt Approved Valuer.... He/she gives the report on the value as on a specific date... even past date. The report is dated today, the valuation is of past date.
15 September 2012
sir i want the section and the rate at which it will be taxed??? 10% or 20%???
Message likes :
1 times
15 September 2012
It will be taxed @20%
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
