If a person has purchased flat without sale of any flat. This case purchased flat entry is neccessary to show in capital gain schedule?
3 Replies
Kapadia Pravin
(17259 Points)
Replied 08 October 2019
Not at all
You have just purchased a flat.
You have not sold any flat and so there is no capital gain.
You have just purchased a flat.
You have not sold any flat and so there is no capital gain.
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 08 October 2019
1. Capital gain will arise only when there is a sale of capital assets resulting in gain.
2. In your case, you have just made a purchase and that way it will never affect your tax liability. Update needs to be made in the FA schedule with capitalization cost.
Please correct me if the above solution has an alternative view.
deepak
(PCS)
(430 Points)
Replied 25 November 2019
fixed assets schedule on income tax return form??
Recent Topics
- Nznxnc call me at the end of the day of the
- Cp chod doob zoom vo book book
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
Related Threads
CAclubindia
