Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2018 Year 2018 This

Long term capital gains - The assessee inherited the said flat ...

Income Tax

October 12, 2018

Long term capital gains - The assessee inherited the said flat by Will after the death of her father. - the amount for discharge of mortgage interest has to be considered as cost of acquisition and accordingly the net consideration on sale of the flat in question will be Nil.

View Source

 


 

You may also like:

  1. Capital gain – benefit of indexation - property received after the death of her father - benefit of indexation allowed since the holding of the father - AT

  2. Capital gain on property inherited - the property inherited by the respective assessees is their individual property and, therefore, the capital gains, if any, is...

  3. Exemption u/s 54 - Transfer u/s 2(47) - Reckoned from the date of possession i.e. 14-05-2011 the assessee is entitled for treatment of sale of flat as long term and...

  4. Entitled to claim long term capital gain on transfer of rights in the Flats - Deduction u/s 54 against capital gains arising out of sale of flats - the right over the...

  5. Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

  6. Capital Gain - Receipt of consolidated amount - where a gain from one of capital assets was a short-term capital gain while from other it was a long term capital gain,...

  7. Long Term Capital Gain - assessee executed a release deed of property - when undisputedly, there is no cost of acquisition to assessee, the computation provision fails,...

  8. Computation of long term capital gain - Sale of ancestral property - Exclusion of the amount paid to the unauthorized occupants directly by the purchase of the property...

  9. Assessee has rightly claimed short term capital loss which is eligible to be set off against long term capital gain and the impugned transaction is neither “sham” nor...

  10. Merely because the assessee has wrongly declared the long term capital gain on account of sale of these 4 flats the authorities are not justified in taxing the long term...

 

Quick Updates:Latest Updates