discusses specifically the capital gain on sale of a house or property. Fair Market Value:For properties purchased before 1 Apr 2001, the latest cost inflation numbers start from 1 Apr 2001, one needs to first arrive at what is commonly known as Fair Market Value (FMV) of the property as ...
The question of whether a sale of real property produces capital gain or ordinary income is a matter of tax law interpretation. The taxpayer's intentions and actions in each situation need to be examined to determine if the taxpayer is in the business of selling real property to customers, ...
26 September 2019 Sir...one of my relative lives to US and wants to sell his property in India...i would like to know how much tax he needs to pay.. and also i want to know the procedure to calculate this tax. following are the property details:-Date of purchase 2nd July 2010purc...
Capital gains tax is the tax levied on the profit made by an individual or an entity from the sale of an asset such as shares, property, or other capital assets.
How to calculate a gain or loss on the disposal of a plant asset? When an asset is sold, how is the gain or loss calculated? Describe how to account for the gain or loss on the sale of property, plant, or equipment. How is the gain or loss on the disposition of busin...
city and due to financial crunch. Therefore the tests laid down in the decisions support the plea of the Assessee that he did not do any adventure in the nature of trade when he sold the larger extent of property after dividing them into smaller sites. The dates of acquisition of the pro...
( 15,00,000) . Under the Indian Income Tax Act profit/loss sale of asset such as bonds, shares, mutual fund units, property come under the category ofCapital Gains.As he owned the house for more than 3 years, he can useCost Inflation Indexation(CII)to include the impact of the ...
Wendel reports a circa € 230 million capital gain from the sale of a 5.5% stake of Legrand's share capital Kohlberg Kravis Roberts & Co. (together with its affiliates, "KKR") and Wendel announce the successful completion of the joint sale of 23.7 million shares of Legrand, representi...
years. The owner decided to move back once the tenant left and lived there until 2005. The owner then sold the property. In this case, the owner can still qualify for the exemption because the property was used as aprimary residencefor at least two of the five years leading up to the ...
ETFs allow investors to circumvent a tax rule found among mutual fund transactions related to capital gains. ETFs are structured in a way that avoids taxable events for ETF shareholders. ETFs can avoid the wash-sale rule because ETFs typically are an index for a sector or a group of stocks ...