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How to account property sale for income tax purpose
27-Jul-2023 (In Property Law)
I have given a GPO regarding my house for development (2007 Feb) and also a GPA for selling my share of 3flats to any suitable persons. Now since he is paying me from his construction company's name and selling them on his name, how to account them for my income tax purposes? How to decide whether the amount comes under LTCG or STCG, as the plan approval came in FEB 2018 and one of them was sold in July 2018 in semi-finished condition.
I have given a GPO regarding my house for development (2007 Feb) and also a GPA for selling my share of 3flats to any suitable persons. Now since he is paying me from his construction company's name and selling them on his name, how to account them for my income tax purposes? How to decide whether the amount comes under LTCG or STCG, as the plan approval came in FEB 2018 and one of them was sold in July 2018 in semi-finished condition.
Ans:- i am unable to catch your question, please contact me at office
Ans:- i am unable to catch your question, please contact me at office
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Adv. Ranjith Reddy Kukunoor
Hyderabad | 25+ Answers
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