Capital gain
This query is : Resolved
17 August 2012
sir,
I have sale my property to my tenant in rs.15 lacs but according to stamp authority value is 25 lacs I want to know what will be sale consideration for the purpose of capital gain.
I have sale my property to my tenant in rs.15 lacs but according to stamp authority value is 25 lacs I want to know what will be sale consideration for the purpose of capital gain.
18 August 2012
As per provision of Inc tax act, for calculating capital gain Stamp authority value which is higher than actual sale value will be considered.
Hence capital gain will Stamp authority value Rs.25L - Indexed(if long term) cost of acquistion-Cost of improvement.
Hence capital gain will Stamp authority value Rs.25L - Indexed(if long term) cost of acquistion-Cost of improvement.
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