Capital gain

Tax queries 147 views 4 replies

Dipesh

Article

27 Points Joined January 2018

Dear All,

I eager to know the possibilities in the asked case study, please help me for the same by posting your comments

Mr. A wise to purchase a land & Building from Mr. B, and consideration as agreed upon by them is Rs. 15 Lacs.

Mr. A wants to borrow Rs. 15 Lacs to purchase the same, But the banks did not the finance the whole amount, the one Bank agreed to finance 80% of deed amount.

One of the way that I'm thinking is Mr.A & Mr.B make a deed of Rs. 18.75 Lacs (15/80*100) so that Mr.A get the finance of Rs.15 Lacs.

But due to this he will have to pay for large amount of Long Term Capital Gain.

please reply

Replies (4)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

209862 Points Joined July 2016

B gets only 15 lakhs for the sell, but makes agreement for 18.75 lakhs for the transaction; so that A can get 15 lakhs from bank.

Thus deal gets trasaction value of 18.75 lakhs....... (even though B doesn't get 3.75 L or repays it to A in some manner)

For calculation of long term capital gain in hands of B, sell value increased to 18.75L and so the LTCG by additional amount of 3.75L

pankaj singh

8 Points Joined June 2018

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Dipesh

Article

27 Points Joined January 2018

Sir,

Can Mr. B save LTCG on 3.75 Lacs ??

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

209862 Points Joined July 2016

First of all, additional liabilty of 3.75 has arised along with regualar LTCG for 15 lakhs sale consideration.

Yes, he can get exemption u/s 54, 54EC etc...... over total LTCG arrived as per contract value of 18.75L.... but he should have his own capital to invest.... (as he has not received the additional amount)