Long terma capital gain tax

This query is : Resolved 
 

(Querist)
06 November 2017

Mr. S made an agreement to sell his house to buyer Mr.B for Rs. X.

B paid Rs. (X minus M) in F.Y. 16-17. TDS was done at the rate 10% on ( X minus M). Seller S sees this sum in his Form 26AS of F.Y. 16.17.

Remaining sum , buyer B paid in F.Y.17-18 and Seller S gave possession of his house to Buyer B in F.Y. 17 - 18.

Please advise how much tax Seller S should pay in F.Y. 17-18 on account of this sale transaction.

Cost of the house, for calculating Long Term Capital Gain, is Z . Z is less than X. Hence, seller S has gained profit.



Adv. Yogen Kakade (Expert)
08 November 2017

Good question paper.. academic query..
come with actual facts of the case

Kishor (Querist)
09 November 2017

These are facts. Should I need to disclose actual figures ? And, I swear this is not academic query. I have to file my I.T. return , of F.Y. 16-17. My I.T. adviser, somehow, fails to reply me. Maybe, he does not know reply.

Rajendra K Goyal (Expert)
09 November 2017

You should post your query in CA club of India with actual figures for proper guidance.

Rajendra K Goyal (Expert)
09 November 2017

Sorry repeated due to net problem, repetition regretted,.

Rajendra K Goyal (Expert)
09 November 2017

Sorry repeated due to net problem.

Rajendra K Goyal (Expert)
09 November 2017

Sorry repeated due to net problem regret..



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