property tax

Querist : Anonymous (Querist) 21 February 2011 This query is : Resolved
recently we purchased a land for rs 37 lacs
but it was registered as per guidance value of rs 13 lacs. while filing tax returns can i show purchase value as 37 lacs or I can only show for registerd value.Also I am selling another land for rs 32 lacs after keeping it for more than 5 years .As both of these transaction have happened in a year am I elegible to be exempted from long term capital gain tax as i have already purchased property more than what I am getting after selling the land.

Follow Query

Report Abuse

soumitra basu (Expert) 15 March 2011
It has to be seen what is the deed value. If the deed value is 37 lacs then you shall be entitle to show purchase amounting to that otherwise not.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries

Bike theft in no parking area
Society not formed by the builder since 1969.
Condonation of delay
Questions regarding partnership firm's case
Cancellation deed
Civil suit for partition
Property dispute..
Graduation while being govt job holder
File pertaining to a letter of administration
Property transfer related

Strike by advocate
Emi demand by finance company
Educational loan scam
Time limitation for filing ep in consumer courts.
Vacation judge
Legal notice used for harrasment
Settlement
What is the meaning of possession (legally) of apartment
Is advocate guilty?
Advocate�s duty to justice apply to the pre-litigation ?