08 July 2009
Suppose X is Having Site, and X has given Site to Y for Lease for Longterm and Mr Y has constructed Factory Shed on the Site lateron the land is Acquired by the Govt Authorty and Govt Has Given Compensation for Factory Shed to Mr X (as site is in the name of Mr X) Lateron Mr X has Refunded the Compensation Amount to Mr Y (As factory Shed is Constructed by him)Now Solve the Following Query. 1. What will be Capital Gain For Mr X
2. Wether Mr X can Claim TDS although he has refunded the compensation Amount to Mr Y.
08 July 2009
Hi, 1. The compensation received from Gov. XXX Less: The amount paid to Mr. Y XXX --- Net consideration XXX Less: Indexed cost of land only XXX ( If long term ) --- CAPITAL GAIN xxx === 2. Yes Mr. X can claim the TDS.
CAclubindia
