If flat is transfered through Gift Deed to non relative (ex to Registered Trust) , whether provisions of section 50C of Income tax act will be applicable to Doner? Any case law / Citesation if any available please provide
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Whether provisions of Sec. Sec. 56(2)(vii) (b) are applicable for Registered Agreement to sale between the land owner and developer. Since the word used in section are " property means the following capital asset of the assessee namely :- immovable property being land or building or both......... Can assessee context the issue on the ground that by executing agreement to sale , assessee has got the rights in property but not the immovable property by drawing the inference from various decisions in the context of 50C, where in it is held that the provisions of Sec. 50C are not applicable…
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Sir, we had a property used as business asset, we have claimed depreciation on the assest for 8years, after which the business was not carried out and hence Depreciation was not claimed for about 9years. Now if we sell the Property, would that be considered as Short Term Capital Gain or Long Term Capital Gain? Would the sale of assest attract 50C or we can claim it as long term Capital Gain. Please suggest.
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If a leasehold land on which building is constructed by self is sold/ transferred for a consideration, will the transaction attract sec 50C.Does the Stamp duty value applies to only freehold land or leasehold land also.
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whether 50C applicable to execution of Gift of immovable property