11 December 2010
hello everyone I bought a piece of land for 25 laks and registered the same for 12 laks to pay the stampduty. Now i want to sell the land for 30 laks.Then how much should i pay as capital gain tax.Is it 30 minus 25 (or) 30 minus 12.
11 December 2010
Why there is a difference in purchase amount and registration amount? If agreement amount 25 lakhs then registration will also be done on 25 lakhs only unless we know the reason for difference.
11 December 2010
Ur capital gain will be based on indexation, if applicable, on rs. 12 lacs...
And maheshwari sir, this is the common practice adopted by people to avoid stamp duty.. He has paid 25 lacs, but on paper valuation is rs. 12 lacs... What to do...
CAclubindia
