Sale of building
This query is : Resolved
18 April 2015
A company building has been sold for Rs 1.75 crores and the value as per govt valuation is rs 3 crores now the seller while paying capital gain tax has to consider government value ie Rs 3 crores.
Does the buyer has any implication as he has purchased the property at and undervalued rate of RS 1.75 crores the buyer is a pvt ltd co. kindly answer.
Does the buyer has any implication as he has purchased the property at and undervalued rate of RS 1.75 crores the buyer is a pvt ltd co. kindly answer.
18 April 2015
In my view, the Pvt Ltd Company will not have any tax implication, as Section 56(2)(vii)(b) is applicable to Individual and HUF only.
18 April 2015
THIS SECTION APLICABLE ON INDIVIDAUL AND HUF
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?
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- TDR receipts for agreement holder
- Inventory of finished goods
- Confusion around Form 26QB fields
- Company Incorporation - CA and directors signing from different states
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Vivad se vishwas scheme 2024 new
- RCM on Advocate services by unregistered perosn
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
