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 September 2023 Year 2023 This

Computation of long term capital gain and indexation of the same ...


Long-term capital gain (LTCG) calculation allows deduction of construction costs from building valued at Rs. 3.78 crore.

September 15, 2023

Case Laws     Income Tax     AT

Computation of long term capital gain and indexation of the same - there exists building as per sale deed which is valued by stamp duty authority at Rs. 3.78 Cr. Hence, we cannot doubt the expenses of building as claimed by the assessee. - Cost of construction allowed to be deducted from LTCG - AT

View Source

 


 

You may also like:

  1. LTCG - Period of holding of asset - deduction u/s 54 - So far as the residential building/house constructed on the said land is concerned, it was constructed in ay:...

  2. Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

  3. 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...

  4. LTCG or STCG - Sale of ground floor of residential unit - whether it give rise to long term capital gains or short term capital gains - Computation from period of...

  5. Exemption from long term capital gains (LTCG) u/s 54F - Construction or acquisition of property - earlier structure was demolished and new construction was made on the...

  6. Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

  7. Characterization of gain on sale of flat - Short term capital gain or Long term capital gain - valuation u/s 50C - conversion of stock in trade into capital asset - Cost...

  8. Long term capital gain on sale of plot of land - Cost of improvement being the cost of construction of boundary wall - Having regard to the facts and circumstances of...

  9. Computation of Long-term Capital Gains - non considering the INDEX COST of assets purchased u/s. 48 - The benefit of indexation while computing long term capital gains...

  10. Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

  11. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

  12. ITAT ruled on long-term capital gains from unlisted shares under India-Mauritius DTAA, specifically addressing loss carry-forward without offsetting against capital...

  13. Long-term capital gain - cost of acquisition - capital gain worked out by the DVO - They have calculated the long-term capital gain simply by taking into consideration...

  14. Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

  15. ITAT held that indexation benefit for property acquisition shall be calculated from the allotment date (3/12/2010), allowing cost indexation based on payments made...

 

Quick Updates:Latest Updates