I had two car parking space, 1st open parking with cost 1 lakh and the other closed parking cost 2 lakh. I enter I to agreement to sell the open space at 4 lakh and the sale was registered and at the time of transferring possession the buyer argued that he wished to buy closed one.
Then I entered into another agreement to exchange the open space with closed space with extra consideration of 2 lakh.
What will be my Total capital gain considering all above happened in same year!?!
6 lacs will be your sale consideration and 2 lacs is cost
so balancing amount 4 lacs will be your gain (short term)
CAclubindia
