Riya Jain (articleship) (105 Points)
26 December 2016My uncle Selling a Plot But thing is Market value is Half than DLC value
So Long term capital gain would be on DLC RATE or Amount Receive which is Half amount of DLC ?
Very Important Qeustion
Best way to Minimaize Capital gain TAX ( I knw about nhai/rec bond and Inflation index)
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174763 Points)
Replied 26 December 2016
Long term capital gain would be on DLC RATE
Riya Jain
(articleship)
(105 Points)
Replied 26 December 2016
Ok silly question Bt have to ask someone said
government (URBAN IMPROMENT TRUST) allotted plots by lottery Thus No Tax on lottery allotted
This is not True right ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174763 Points)
Replied 26 December 2016
Nothing is more dreadful or silliness than Ignorance.
Comming to last query, First I am not aware about any such lottery allotment. (of LAND)
As far as taxability of any lottery is concern, its specifically taxable at higher rate.
But if any special scheme, under or for weaker section, wherein Government announce any such exemption; then the same would be annouced by its Notification.
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