Capital Gain
This query is : Resolved
10 May 2011
1 Commercial complex of 5 floors was demolished in earthquake in 2001 . My client has purchased 1 office in 3rd floor during 2000 @ rs. 1,54,000. he did not recd. any compensation for loss. now the land on which d complex was cons. is sell. My client recd. Rs. 50,000/- towards sell of right in land in 2011. wht will b d cost of sell of ri8 on land ???
12 May 2011
You have to check out the agreement due to which your client got the right on the land. if there is no seperate agreement or there is no clause for the land in the agreement for purchase of office, then the cost of land would be NIL.
12 May 2011
in d agreement f purchase of office in complex ,value f land nt shown seperately . bt the owner got propotionate ri8 on land with others.thats y he get nly consideration for sale of his ri8 on land .
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