Sivaraman A R (.) (1040 Points)
04 February 2017Sale of House property
Sale value Rs 40 lakhs.
Advance obtained in FY 2016-17 – Rs 30 lakhs
Final Settlement in FY 2017-18 – Rs 10 lakhs. (Sale deed prepared in FY 2017-18)
Is there any capital gain tax for AY 2017-18?
Can we show Sales proceeds for AY 18-19, Rs 40 lakhs even though advance was obtained in AY 2017-18?
Regards,
Siva
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 04 February 2017
Yes , date for sale deed will be taken for computing capital gain i.e FY 2017-18, and CG will also be chargeble to tax in same FY
www.mytaxfiling.in
info @ mytaxfiling.in
patel viren j
(accountant)
(22 Points)
Replied 01 August 2019
any body guide me what need to give effect tds deducted from advance money at the time of advance received AY--i mean 194ia can i refund this year , and at the time of gain simple pay gain tax as per capital gain law
CAclubindia
