Answers On Topic: Capital Gains
No capital gain to be charged on profit from sale of rural agricultural land
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Assessee deposited capital gain in CGAS. But while purchasing the new property utilized amount from personal saving account. Are the unutiled amount CGAS is taxable
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Sir, It assessess own commercial property trading for cloth business maintained and assessess business part place government occupied for road extension purpose.if assessess business part place registered to government after some amount received. Question: Assessess received amount from government capital gain tax implications for it act.
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Mr. A is a proprietor of various business having different trade name and place of business but the nature of business is same. Can he transfer the business to M/s. A Ltd company after retaining immovable property in his name so no capital gain tax is payable. Is it necessary to transfer it’s entire business with all assets and liabilities to the A Ltd company?
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In Case of Transfer ownership of Land to Developers by Landowner (Individual) against consideration in Area and some money. Q1. whether this is covered under Section 45 (5A), as it is not a Development Agreement? Q2. In this Case Developers Purchase Capital Asset - Land from Landowner and Developers name will be mentioned on Revenue Record as Landowner? Q3. Whether Landowner Income Tax Liability will postponed to Future Date on the date of OC
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Facts of the Case The Taxpayer holds unlisted shares and optionally convertible debentures (OCD) in one of the Private Limited Company (say “ABC Private Limited”). The Debentures and Shares both are held by the Taxpayer for more than 5 years. Now the ABC Pvt Ltd incurred heavy losses and became debt ridden and the company was taken into liquidation under the IBC by one of the financial creditors. The liquidation order was passed by NCLT in February 2024 dissolving the company with immediate effect. The taxpayer received nothing on liquidation since company did not have any funds for distribution to…
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Hi I am Chetan Desai I have 250 soft 1 room kitchen in chawl since 1950 in 2021 my room is going under redevelopment . Now I get 440 sqft flat and my flat allotede on 18 April 2022 and get registered on this day Now I want sell my flat after oc recived how property capital gain calculat and how much I have to pay? Or nil I have to pay pls advice
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Sir, I was a tenant in Pagri system. In April,2022 I signed an agreement with a builder for redevelopment. I am expected to receive OC of my new flat in lieu of my old flat in August 2024 and would like to sell it off in the same month, what capital gain I will attract? Chetan Desai
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Dear Sir, I Sold my property in the year 2023 for a sale consideration and made a separate agreement for the sale of furniture & fixtures. So both the Building cost and Furniture & Fixtures cost credited to my account separately.. Building Sale Stamp duty paid and TDS Deucted 1 % For Furniture & Fixtures made an agreement in Rs.200 stamp paper but deducted 1 % TDS by the Buyer. Do I need to pay any capital gain or any tax on the sale of Furniture & Fixtures in this or totally exempted. Secondly in ITR 2 , where i…
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refer case laws