Capital gain
This query is : Resolved
11 January 2014
My mother sold a property in Feb 12. Circle rate was 57 lakh. Registry done for 36 lakh. This property was gifted to her by I laws. How the tax will be calculated?.she has not filed return for past few years. Is it a trouble ?? Pls advise
13 January 2014
Although some more details are required in your case, you may take help of this general answer.
Deduct indexed cost of acquisition and improvement from the sale amount and pay the tax on the same unless you opt for the benefits available under capital gain provisions.
Deduct indexed cost of acquisition and improvement from the sale amount and pay the tax on the same unless you opt for the benefits available under capital gain provisions.
Message likes :
1 times
13 January 2014
sir is there a time limit of 3 years to re invest in purchasing any land ??
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- 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?
Trending Online Classes
CAclubindia
