Tax implication
Rahul Patel (Accounts Executive) (94 Points)
14 July 2016Rahul Patel (Accounts Executive) (94 Points)
14 July 2016
CA Srujann kumar Reddy
(Asst Manager(Internal audit))
(1679 Points)
Replied 14 July 2016
Rahul Patel
(Accounts Executive)
(94 Points)
Replied 14 July 2016
Capital gain will arise upon 1.87crores.
But IT Dept may raise questions about such lower valuation. Then what will be the outcome?
CA Srujann kumar Reddy
(Asst Manager(Internal audit))
(1679 Points)
Replied 14 July 2016
Rahul Patel
(Accounts Executive)
(94 Points)
Replied 14 July 2016
But if I reinvest the entire capital gain amount in buying a new property, and I dont pay any taxes on 1.87cr.
Then will IT dept allow this transaction ?
CA Srujann kumar Reddy
(Asst Manager(Internal audit))
(1679 Points)
Replied 14 July 2016
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