Taxation on capital gains
This query is : Resolved
22 June 2013
Dear Sir,
If a person is attracted for tax on "Long Term Capital Gains," and he pays that money as an advance for purchasing a flat
within a stipulated time and after one and half year, due to circumstances, he cannot go for registering that flat in his name
and he gets back that money which was given as an advance to builder and thus, his capital asset investment proposal is aborted,
then how the person will be taxable on that money received in present financial year?
If a person is attracted for tax on "Long Term Capital Gains," and he pays that money as an advance for purchasing a flat
within a stipulated time and after one and half year, due to circumstances, he cannot go for registering that flat in his name
and he gets back that money which was given as an advance to builder and thus, his capital asset investment proposal is aborted,
then how the person will be taxable on that money received in present financial year?
22 June 2013
it will taxable @ 20%
if he dont want to invest in any residential property
if he dont want to invest in any residential property
31 October 2013
If a person is attracted for tax on "Long Term Capital Gains," and he pays that money as an advance for purchasing a flat
within a stipulated time and after one and half year, due to circumstances, he cannot go for registering that flat in his name
and he gets back that money which was given as an advance to builder and thus, his capital asset investment proposal is aborted,
then how the person will be taxable on that money received in present financial year?
within a stipulated time and after one and half year, due to circumstances, he cannot go for registering that flat in his name
and he gets back that money which was given as an advance to builder and thus, his capital asset investment proposal is aborted,
then how the person will be taxable on that money received in present financial year?
31 October 2013
If a person is attracted for tax on "Long Term Capital Gains," and he pays that money as an advance for purchasing a flat
within a stipulated time and after one and half year, due to circumstances, he cannot go for registering that flat in his name
and he gets back that money which was given as an advance to builder and thus, his capital asset investment proposal is aborted,
then how the person will be taxable on that money received in present financial year?
within a stipulated time and after one and half year, due to circumstances, he cannot go for registering that flat in his name
and he gets back that money which was given as an advance to builder and thus, his capital asset investment proposal is aborted,
then how the person will be taxable on that money received in present financial year?
31 October 2013
The same as treatment would be applicable,
He'll be liable to pay on the LTCG Tax at a rate of 20 percent..
However, He can purchase or construct a residential property under the remaining stipulated time to claim exemption once again....
He'll be liable to pay on the LTCG Tax at a rate of 20 percent..
However, He can purchase or construct a residential property under the remaining stipulated time to claim exemption once again....
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