Capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2013
I have to sell a furnished house for Rs. 1 crore. I have bifurcated the sale price 70 lacs for the house and 30 lacs for the furniture and other furnishing items(personal effects). My query is, what amount to be taken as sale consideration 70 lacs or 100 lacs. Kindly clarify.
29 May 2013
rs. 70 lacs
29 May 2013
If in papers ie in sale deed the value of house is shown as 70 lakhs only, than the sale consideration will be taken as 70 lakhs. Otherwise it shall be taken as 100 lakhs. If the sale deed specifies Rs 100 lakhs as sale consideration than it will be very tough for you to convince the AO. Because sometimes furniture and fixtures are considered as part of the house property.
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