Capital gain
This query is : Resolved
16 April 2011
How to calculate long term capital gain on transfer of residential property for individual?
Cost of land can be indexed for arriving at cost and the difference between cost and sales consideration mentioned is long term capital gain.
Regarding the cost of the building, one may not have details of the cost for building constructed before 1981. How to calculate cost in this case and whether one has to apply depreciation on building which will reduce the cost of the building for calculation of capital gain.
Cost of land can be indexed for arriving at cost and the difference between cost and sales consideration mentioned is long term capital gain.
Regarding the cost of the building, one may not have details of the cost for building constructed before 1981. How to calculate cost in this case and whether one has to apply depreciation on building which will reduce the cost of the building for calculation of capital gain.
16 April 2011
Obtain a valuation report from an approved valuer.
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
- Tax implications of gift to maternal uncle
- Closure of a PVT LTD company
- ROC filings for the first year of incorporation
- Input Tax Credit Puf panels
- Real estate business by a partnership firm where both of the partners are SC/ST
- 26QB correction - no data available error for fully consumed/processed with default
- When I Login E-invoice portal with waybill user id and pw, it is showing 3011 error data
- How to open attachment in 23ac xbrl
- TDS on Purchase of Immovable Property in case of Co Owner
- Gst calculation of Rs. 250000/-
- Income tax planning
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
- Printing Press under Composition Scheme
- 140-A Tax Wrongly Paid PAN No
- CSR funding for private limited companies
- Professional tax deduction monthly
- Cross charges verses Isd methof
- Refund Application in RFD 01 for Export without payment of tax
- Ewaybill bill to ship from
- Fail to issue gst invoice from last 46 months
CAclubindia
