Re: [aaykarbhavan] Query regarding Capital Gain relating to Exchange of Property

Please FIRST provide your view  whether it is to be treated as SALE or EXCHANGE ., If it is a case of  Exchange then what should be the cost of acquisition --Rs. 10/ or Rs.100/- per share?? And in case of Exchange what should be the full value of consideration.( probably it should be Registered value of Land exchanged ,  please correct me If  I am wrong)

On Saturday, 28 December 2013 6:07 PM, Dipak Shah <djshah1944@yahoo.com> wrote:

 

u r active in this group. Three days back I was in your building. I was in hurry. I could not meet you. Next time I will come to your office.
Regards,
C A Shah D J
 

 

On Saturday, 28 December 2013 6:03 PM, 48945 CA.CHITRANJAN BHARADIA <chitranjan@icai.org> wrote:

 

It shares are held more than 12 months, there will be long term capital gain, and if it is shown that the same is invested in the house property, he can get benefit of section 54, however he needs to do trascantion by cheque. in your query cost of acquisation is Rs. 200.00 lacs and sale of consideration is 180.00 lacs

 

Thanks with Best Regards

 

CA Chitranjan Bharadia

On Fri, Dec 27, 2013 at 7:54 PM, <sjmrng29@yahoo.co.in> wrote:

 

My client WAS a promoter of a Pvt ltd. Co. and was holding 75% share( 2lac share) , fair market value is Rs.100/- per share  and Face value Rs.10/-per share , This year he transferred 1.80 lac   share to Mr. X. , fair market  value of which is 1.80 cr. But  Mr.X gave him land , registered value of the land  is 2 crore. , no transaction of cash taken place ,--Now my question is --------

(1)     Can this transfer be considered as EXCHANGE for capital gain tax ? If so what will be the cost of acquisition and Value of  sale consideration  ?

(2)    If it can not be considered as EXCHANGE then What will be the cost of acquisition and Value of sale consideration  ?

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