Answers On Topic: Capital Gains
How can a buyer ascertain whether a seller is having tax dues ? what is the liability of a buyer who has bought property from a seller having tax dues ?
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can a tenant adopt value as on 1-4 -2001 for indexation while surrendering rights ?
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In calculation of deduction under section 54F whether actual sale consideration will be considered for net sale consideration or 50 C will you will be considered
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The assessee during the year under consideration sold unlisted shares on 16.06.2017 taxable as LTCG and claimed the deduction u/s 54F of the Act on account of amount invested in Residential House Property As per department the assessee is ineligible to claim deduction u/s 54F of the Act as he owned two residential house property, apart from the new residential property. Assessee has executed registered agreement for assignment of the flat owned by him on 05.04.2017. The assessee has received more than 97% of the consideration as on 30.04.2017 and accordingly gave the possession of the said flat. Affidavit of…
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Assessee is Partnership firm of two person, father and son . Firm has assets which includes immovable property on which depreciation is claimed and also other current assets like stock in trade etc. On 4.07.2020, one of the partners I.e. father expired . Since there are no legal heirs , the other partner I.e. son become the proprietor of the business. Kindly guide whether provision of Sec. 9(b) and 45(4) are applicable and implications in the hands of sole surviving member in the family.
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Ancestral Urban Agri. Land had been converted into NA Land in FY 2017-18 and ultimately sold in FY 2021-22. For the purpose of computing capital gains, while determining COA as on 01-04-2001, whose FMV is to be taken - i.e. applicable to Urban Agri. Land or NA Land? Also whether is it possible to take COA as on the date the Urban Agri. Land was converted to NA Land? Thanks.
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guidance value of an apartment which was booked with the builder during 2008, and took the possession in 2010. during the registration process, the builder registered under karnataka registration act the uds land portion cost ( based on guidance value) as per the agreement where as the construction cost of the apartment not included for registration purposes. it was practice generally followed by the builders for all the owners who so ever booked the property. During the relevant F.Y 2015 - 16 the assessee has sold house property for a consideration of Rs.1.00 crores as per sale deed document. The…
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112A WHETHER FOR LTCG 112 A CAN BE OPTED AND LTC LOSS CAN BE CLAIMED SEPARATELY. MEANING THEREBY WHETHER ASSESSEE CAN OPT FOR 112A FOR GAIN AND OTHERS FOR LOSS ON EQUITY SALE AND ADJUST LOSS
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the assessee company had booked a flat in feb 2011 for an agreed consideration of Rs 180.00 lacs . only booking form and allotment letter was executed and a sum of Rs 25.00 lacs was paid in Feb 2011. subsequently the project went into litigation and due to development rules constraint the project was delayed and final agreement was executed in registered in sep 2017. the stamp duty valuation is Rs 250.00 lacs. The AO is seeking to tax the difference in the agreed value and the stamp duty valuation u/s 56(2)(x), though the assessee is seeking refuge in the…
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An assessee has earned long term capital gain on sale of his share of flat after determining the indexed cost. He wishes to obtain exemption for the gain by investing in bonds u/s.54EC. He also has brought forward long term capital loss which he would to set off against future gains on sale of shares. Whether the long term capital gain on sale of flat has to be determined by first deducting the brought forward loss and he can avail the benefit of Section 54EC only in respect of the balance income?
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purchase of a property —dues of seller