Capitgal gain

This query is : Resolved

pradeep (Querist)
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11 February 2011 if A sold to B one flat for 10 lac and Stamp duty value is 15 Lac and the same was acquired by A for 2.5 lac 2 yrs back
then B had sold the same flat after 6 mth for 20 lac then in case of B what shall by the COA

give reasons/supportings for ur answer

CA Manikandan.A.V

CA Manikandan.A.V (Expert)
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11 February 2011 1) A sold to B :

FVC = 15 Lac COA = 2.5 Lac CG = 12.5

2) B sold to X

FVC = 20 Lac COA = 15 Lac CG = 5 Lac.
and Other source income5 Lac (15-10)

My workings are as per sec 50C and 56 (1) (vii)

pradeep

pradeep (Querist)
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11 February 2011 sir but sec 56(1)(vii) does not speak about inadequate consideration it only speak about without consideration then hw can 5 lac be treated as income from other sources

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