Forums
capital gains
Direct Taxation
answered on 04-Jun-21 08:09
If an immovable property (house property) was bought and sold as per below, what should be taken as cost of acquisition for the purpose of computing capital gains. Agreement for sale - 70 lacs in June 2014 Stamp duty value - 60 lacs in Sept 2014 Entire sale consideration of 70 lacs paid through bank RTGS transfer as per sale agreement. Property sold for 85 lacs in June 2020 (The value in sale agreement and sale deed/stamp duty value are same at 85 lacs). Question is whether the cost of acquisition is Rs. 60 lacs or 70 lacs in the hands of seller as the seller has paid Rs 70 as per sale agreement at the time of purchase and that is the actual consideration paid though the stamp duty value of 60 lacs at the time of acquisition.
latest answer
Indexation benefit must be given for cost of acquisition because it is long term capital asset. As per the information given by you, because you paid Rs. 70 laks in June 2014, you have to index 70 laks.
John Selvaraj
CA Inter
★ 140
2
606
National income
Economics
answered on 03-Jun-21 20:14
In the given graph why does line 1 start from origin and line 2 started from y axis? Although line 1 has C in it.. why does it start from orgin? Please reply... ASAP...!!
latest answer
Soo consumption(C) always starts from above zero level
Sai Teja
CA Final
★ 14K+
5
715
National income
Economics
answered on 03-Jun-21 23:30
In the given graph why does line 1 start from origin and line 2 started from y axis? Although line 1 has C in it.. why does it start from orgin? Please reply... ASAP...!!
latest answer
Because there is autonomous consumption even in the zero level of income that's the reason why consumption line never starts from zero
Sai Teja
CA Final
★ 14K+
1
576
Explanation for 22 nd ques?
Maths & Stats
answered on 03-Jun-21 18:46
Explain question and answer for 22 nd question?
latest answer
Since the total probability is distributed in the region 4 to 6, p(4 to 5) will be half
MATURU HAMSA GAYATRI
CA Final
★ 23K+
1
486
Doubt in contract act
Corporate & Other Laws
answered on 07-Jun-21 21:58
What is the meaning of forbearance as per contract act ?? ND can anyone plz explain communication of acceptance by omission to do something ??? Hoping for a quick ND detailed ans
latest answer
Forbearance to sue has always been regarded as valuable consideration. It is indeed, a kind of abstinence, which is so very clearly recognized as good consideration in the definition itself. â??Forbearance to sueâ?? means the plaintiff has a certain right of action against the defendant or any other person and on a promise by the defendant he refrains from bringing the action. This results in a benefit to the person not sued and a detriment to the person who could sue
sujal jaiswal
CA Foundation
★ 485
3
723
Income from house property
Direct Taxation
answered on 07-Jun-21 12:07
In problem no. 9(IL material), why can't we take expected rent as 7000*12 instead of 6300*12?
latest answer
Ok sir. Got it. Thank u sooooo much sir for explaining in detail.
Likhitha Sivani
CA Final
★ 14K+
8
657
Postal ballot
Corporate & Other Laws
answered on 03-Jun-21 12:54
What is the difference between poll ans postal ballot?
latest answer
Tq sir
bsai partish
CA Final
★ 2K+
2
533
Doubt
Accountancy
answered on 03-Jun-21 12:48
On redemption of debentures with premium , we would write of the premium on the year of issue itself but in this sum they have redeemed it on the year of redemption why ?
latest answer
Ok sir
Sri kanaga Varshini
CA Final
★ 3K+
2
523
Income from house property
Direct Taxation
answered on 03-Jun-21 13:25
Sir can u explain the treatment of co-owned property In case of both self occupied Let out.
latest answer
Ss
AbithaSuku S R
CA Inter
★ 2K+
4
684
Doubt
Accountancy
answered on 03-Jun-21 13:28
Sir Here how to find the no. Of bonds as per the cum interest... Iam not getting that. Please help me out
latest answer
Okay, great. Happy studying!
Anirudh gupta
CA Inter
★ 27K+
3
533