Answers On Topic: Capital Gains
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
► Read Answer
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
► Read Answer
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…
► Read Answer
The AO passed the order with a condition that the the assessment will be revised once the DVO report is available. The assessee filed an appeal before CIT(A).Is it possible to revise the assessment us264 after the revised assessment order is received. Please clarify. Thanks
► Read Answer
I Received Flat in respect of redevelopment of Chawl in agreement with builder acquisition cost is Zero, market values is 1850000/- now question what should be Acquisition cost while calculation capital gain ?
► Read Answer
if the assessee died in year 2018 and Capital gain arise in the year 2015 and the legal heir of the deceased person which was his children are minor at that time and their mother are Doesn't have knowledge as house wife and income tax impose interest on Capital gain is there any chance that this interest waived?
► Read Answer
Hello , In one of the CHS's case , redevelopment agreement entered into between Society and Builder. Redevelopment agreement got registered and builder had paid stamp duty on the same. Subsequent to this , department has sent notice to Society claiming that since the agreement is entered into between society and builder and society has benefitted with the sum of Rs......( Value of Development agreement) in the form of new construction, enhanced area and rental expenses in the existing property as per the agreement which is otherwise taxable under the head Income from Other Sources. Whether the said valuation…
► Read Answer
THE CO-OPERATIVE SOCIETY ENTERED INTO DEVELOPMENT AGREEMENT WITH THE DEVLOPER IN FY 2014-15. THE SAID AGREEMENT REGISTERED IN FY 2014-15 AND STAMP DUTY DETERMINED VALUE AT RS.6.17 CR. BASED ON COST OF NEW CONSTRUCTION AND LEVIED STAMP DUTY. SOCIETY DID NOT RECEIVED ANYTHING FROM DEVELOPER. BUILDING MEMBERS VACATED IN 2017. DEVLOPER PAID HARDSHIP COMPENSATION TO EXISTING MEMBERS AND GAVE PERMANENT ACCOMODATION TO MEMBERS IN THE YEAR 2021. CAAN ITO TAX 6.17 CR. STAMP DUTY VALUE IHE HANDS OF SOCIETY IN FY 2014-15? IN FACT EXISTING MEMBERS HAVE OFFERED CAPITAL GAIN TAX ON ACQUIRING OF NEW FLAT AND CLAIM EXEMPTION U/S.54.…
► Read Answer
I am a tenant in a cessed building in Matunga East - Mumbai. If I surrender my tenancy & get a payment from the landlord - is that subject to taxes? If yes - what would be the tax %? What would be the implication if I invest the money in a residential property? Will i get exempted from taxes on account of the same?
► Read Answer
Property capital gain tax