Cap Gains on sale of Lease Hold Plot by Company

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  1. Shital

    Shital Member

    ABC Pvt Ltd had acquired MIDC (95 Year Lease) Plot in 2005 after paying Rs. 1,35,000/- and the Company want to sale the same at Rs. 95,00,000/=

    What would be the tax payment on aforesaid matter.

    Is there any way to get tax benefit/ convession ?
    The aforesaid company has no income in the current year (01.04.2015 to till today).

    Please help me.

    Kind Regards,
  2. Divya Mehta

    Divya Mehta Member

    The Cost of Acquisition would be indexed and then subtracted from the sale proceeds to arrive at the cap gains tax.
  3. Divya Mehta

    Divya Mehta Member

    Benefit of Section 54/ Section 54F to save tax cannot be claimed in this case as they are available only to Individual/ HUF

    However, benefit of Section 54EC for reinvestment in bonds can be claimed in this case to claim capital gains exemption
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