Tax on Disputed High Gain Capital Assest
This query is : Resolved
05 March 2020
Do I have to pay high capital gain tax on a commercial property which was in possession illegally with somebody else for last 20 years now being settled by court in my favour & if the buyer is paying less than the market value
05 March 2020
Fair market value will be considered for capital gains computation if FMV is more than 105% of the amount received. Section 50C(1) r.a.w 3rd proviso.
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