Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 January 2013
how can i calculate capital gains tax on sale of land with building and machinery ? when DLC value of whole Property is 43 Lakhs( including Land Machinery & Building)
17 January 2013
U have to calculate capital gain on each block of assets i.e, Land, Building and Machinery separately.
For computing capital gain, u must be knowing sales consideration and their related cost of each assets separately by adopting suitable valuation of assets by valuer if the total consideration of 43 lakhs not ascertainable separately.
For computing capital gain, u must be knowing sales consideration and their related cost of each assets separately by adopting suitable valuation of assets by valuer if the total consideration of 43 lakhs not ascertainable separately.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 January 2013
thanks sir i have also one query relating to above query
can assessee invest the considaration of his fathers house so he take exemption u/s 54f or not ?
can assessee invest the considaration of his fathers house so he take exemption u/s 54f or not ?
18 January 2013
Yes. You can get the exemption u/s 54F subject to conditions laid down under the provisions this section.
Assessee can invest the consideration in his fathers' house but it has to be registered in assessee name by way sale deed as same may be shown as proof if AO asks.
Assessee can invest the consideration in his fathers' house but it has to be registered in assessee name by way sale deed as same may be shown as proof if AO asks.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
