Long term capittal gain on sale of residential flat
Kishor
(Querist) 22 July 2017
This query is : Resolved
I made banakhat (Agreement to sell and buy on fulfilment of agreed terms and conditions) in F.Y.16-17, to sell my residential flat for Rs. X. Buyer paid me a part amount Y in F.Y.16-17 itself.
I paid one per cent of Y as TDS. ( Note carefully : One Per cent of Y )
Final sale agreement was done in F.Y.17-18 when buyer paid me remaining amount i.e.X minus Y. I paid TDS, in 17-18, at one per cent of ( X minus Y) . I gave possession of my flat to buyer in 17-18.
Total Long Term Capital Gain I got on sale is Rs. G.
Kindly advise me what figures I should write in my both returns as regards these (1) sale proceeds and ( 2) capital gains.
Sankaranarayanan
(Expert) 22 July 2017
We need the clarity of your query, your query seems academic and Without the correct consideration of sale amount, how we give the reply
R.K Nanda
(Expert) 22 July 2017
contact tax lawyer for it.
Rajendra K Goyal
(Expert) 22 July 2017
Show all documents to local tax consultant.
Kishor
(Querist) 23 July 2017
Dear Shankar, Can you not take X , Y etc as correct amounts ? Query is not academic. I have to file my return before 31 st July.
