Regarding ltcg on residential flat
This query is : Resolved
10 November 2012
Dear Sirs, I own a residential flat which acquisition Price As on 19/12/2009 was Rs. 7,00,00/- as per Sale agreement.
Now I want to sale it on 20/12/2012 @ Rs.26,50,000/-
Now I`v a question that how much is the capital gain & the purchaser is asking for full agreement of Rs.26,50,000/- which I think must be less.
Now Please inform me that if I purchase a new Flat of Rs.19 lakhs or Rs.20 Lakhs then what amount of agreement should be made for the Old Flat?
Now I want to sale it on 20/12/2012 @ Rs.26,50,000/-
Now I`v a question that how much is the capital gain & the purchaser is asking for full agreement of Rs.26,50,000/- which I think must be less.
Now Please inform me that if I purchase a new Flat of Rs.19 lakhs or Rs.20 Lakhs then what amount of agreement should be made for the Old Flat?
11 November 2012
The Long Term Capital Gain arising is
2650000-(700000*852/632)=1656329
.
As the cost of new asset is more than the capital gains, you may enter into a sale agreement of Rs. 26.50 lacs.
.
2650000-(700000*852/632)=1656329
.
As the cost of new asset is more than the capital gains, you may enter into a sale agreement of Rs. 26.50 lacs.
.
Message likes :
1 times
12 November 2012
Agreed with Paras Sir.
No tax liability if u invest in new house.
No tax liability if u invest in new house.
Message likes :
1 times
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- 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
- 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?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
