Capital gain tax
This query is : Resolved
22 August 2015
Dear All,
I have a query relating to Capital Gains. One of the person wants to sell her House Property for a sale consideration of Rs.20 lacs. Such amount is received by a cheque. She wanted to use such amount for clearing her debts.
Then question is, is such transaction attracts Capital Gain Tax?
Moreover, that is the only Income to her.
Please suggest me in this regard.
Thanks in Advance.
I have a query relating to Capital Gains. One of the person wants to sell her House Property for a sale consideration of Rs.20 lacs. Such amount is received by a cheque. She wanted to use such amount for clearing her debts.
Then question is, is such transaction attracts Capital Gain Tax?
Moreover, that is the only Income to her.
Please suggest me in this regard.
Thanks in Advance.
22 August 2015
Yes it will attract capital gains tax. For calculating the capital gain, cost of acquisition and date of acquisition is required.
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
- 44AD PRESUMPTIVE RATE ON CREDIT SALES
- After retirement
- Treatment of Car allowance
- Dried Vegetable Sale from Rajasthan to MP, E-way Bill compulsory or not?
- Is GST threshold limit applicable for services by Indian firm, receipts receiving from foreign accou
- Input tax credit on modular office kitchen
- Want sell 3 years old privet limited company in Mumbai
- Huge late fee, keep pending as Limited Liability Concept
- Regarding TDS liability ....
- EWAY BILL BY SELLER TO MY BUYER DIRECTLY?
- Advt Expenses
- ITC of Insurance on Capital Electronic Goods
- Discontinuance of Interest and Salary to working partners
- SERVICE PROVIDER GST
- TIME LIMIT FOR AVAILMENT OF ITC LAYING IN ITC REVRSAL LEDGER
- Tally entry - Debit note
- Debit Note of GST amount
- Reposting my query kindly reply.
- Regarding ITC taken or not
- Gst registration in the state of maharashtra
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
