Long term capital gain exemption
This query is : Resolved
12 January 2012
Hi friends,
My client is a limited oil mill company. The object of the company is manufacturing and sale of oils. The company has an agricultural land (long term asset) and the same has been converted into sites and sold. Whether the company can pay 20% tax on long term capital gain. Further whether the company is also eligible to invest in LTCG bonds (REC / NHAI).
My client is a limited oil mill company. The object of the company is manufacturing and sale of oils. The company has an agricultural land (long term asset) and the same has been converted into sites and sold. Whether the company can pay 20% tax on long term capital gain. Further whether the company is also eligible to invest in LTCG bonds (REC / NHAI).
12 January 2012
For LTCG company will have to pay 20% tax.
To save capital gain tax company will have to purchase.
On sale of sites there will be business gain.
To save capital gain tax company will have to purchase.
On sale of sites there will be business gain.
12 January 2012
dear mr. vipul shah
thank you for your reply
kindly clarify further whther profit on sale of sites can be consider as business profit
or LTCG
dear mr. vipul shah
thank you for your reply
kindly clarify further whther profit on sale of sites can be consider as business profit
or LTCG
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
