10 August 2014
Hello All I have a question and needs your opinion. My client has received a amount of Rs.10L out of his share in Dada's property on sale. This amount is taken as his income for taxation? What will be shown in his books of account? Kindly advice and reply soon. Regards Sanjay
sales value and then take indexation benefit from the year in which you take the property and compute the gain . if period is your holding more than 3 year then long term capilt gain and take indextion benefit otherwise (sales price -cost of assets) profit will short term capital gain
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