I have sold my residential flat this month. Property Sale Completed: Key Tax Implications for ₹ 70 Lakh Gains Explained Since the ownership of the property stands transferred on the execution of the sale deed on which the transfer happened. Please note that after the removal of the indexation provision for practically all the purposes from the current year, you …
On finding no infirmity in the order passed by the CIT, the Ahmedabad ITAT confirmed that rights held by the assessee as a Confirming Party in the Sale Deed is a capital asset within the meaning of Section 2 and liable for LTCG and the assessee is also eligible to claim deduction u/s. in legal prospective.” As per the brief …
The Rajkot Bench of the Income Tax Appellate Tribunal has held that the property transferred by the assessee to his mother for consideration of Rs. The two-member bench of Suchitra Kamble and Waseem Ahmed has directed the AO to refer the matter to the Department Valuation Officer to determine the value of the property in accordance with the provisions of …
