Long terma capital gain tax

Kishor (Querist) 06 November 2017 This query is : Resolved
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.

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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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