Computation of long term cap gains on land
This query is : Resolved
24 January 2015
dear sir,
1. i was allotted a plot by HUDA gurgaon on march 1995 at a total cost of rs 6.40 lacs payable in seven yearly instalments of rs , say one lac per year from 1995 to 2001, which amount was paid all in time.
2. it was a stipulated condition of the allotment letter that till then uundetermined farmers compensation was payable by me.
3. the farmers compensation of rs 5 lacs was demanded in march 2001 and was paid.
my query is:-
1. does indexation for sale of land will be on the stiplated total price of rs 6.40 lacs from 1995 or indexed as and when instalments are paid.
i am informed that since the agreement was made in 1995 that would be the deemed date of purchase , amount being rs 6.40 lacs?.
2 will farmers compensation of rs 5 lacs paid in 2001 be indexed from that date or from 1995?.
i propose to sell the land this fiscal
thanking you
vinay kala jan 2,15
1. i was allotted a plot by HUDA gurgaon on march 1995 at a total cost of rs 6.40 lacs payable in seven yearly instalments of rs , say one lac per year from 1995 to 2001, which amount was paid all in time.
2. it was a stipulated condition of the allotment letter that till then uundetermined farmers compensation was payable by me.
3. the farmers compensation of rs 5 lacs was demanded in march 2001 and was paid.
my query is:-
1. does indexation for sale of land will be on the stiplated total price of rs 6.40 lacs from 1995 or indexed as and when instalments are paid.
i am informed that since the agreement was made in 1995 that would be the deemed date of purchase , amount being rs 6.40 lacs?.
2 will farmers compensation of rs 5 lacs paid in 2001 be indexed from that date or from 1995?.
i propose to sell the land this fiscal
thanking you
vinay kala jan 2,15
24 January 2015
The Allotment date is the Date of Purchase for Indexing Also and Farmers compensation would be capitalized as and when paid by Allotee.
24 January 2015
thank you mr singla for the immediate response.
vinay kala
jan 24,15
vinay kala
jan 24,15
25 January 2015
Mr. Vinay you are most welcome to raise queries.
19 February 2015
dear nr singla,
kindly aquy elaborate what is meant by capitalisation of farmers compensation.
just some input sir for clarity
under a clause of the allotment letter dt 2.3.1995 it was stipulated that farmers compensation would be payable.
it was paid on 2000.
my quiries are
1. would farmers compensation be indexed too from the date of allotment letter as there was a mention of it but the amount was dependent on a future judgement of the nigh court
or it would be indexed from date of payment till date of sale?.
2. is there any way by which l t cap gains from sale of land be investment in an apartment and there is some rebate on capital gain.
i am aware of govt bonds which i do not want to lock funds in.
i would rather pay lg cg
regards
vinay kala
feb 19,15
kindly aquy elaborate what is meant by capitalisation of farmers compensation.
just some input sir for clarity
under a clause of the allotment letter dt 2.3.1995 it was stipulated that farmers compensation would be payable.
it was paid on 2000.
my quiries are
1. would farmers compensation be indexed too from the date of allotment letter as there was a mention of it but the amount was dependent on a future judgement of the nigh court
or it would be indexed from date of payment till date of sale?.
2. is there any way by which l t cap gains from sale of land be investment in an apartment and there is some rebate on capital gain.
i am aware of govt bonds which i do not want to lock funds in.
i would rather pay lg cg
regards
vinay kala
feb 19,15
20 February 2015
1.Compensation by Govt. is always indexed from the Paid Year.
2. You would be relived from CG after sale in case you make further Investment in Residential Prop.
Is there any other query
2. You would be relived from CG after sale in case you make further Investment in Residential Prop.
Is there any other query
20 February 2015
dear mr singla
thanks sir
i am satisfied
vinay kala
thanks sir
i am satisfied
vinay kala
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