FOR INDIA'S BEST CA CS CMA VIDEO CLASSES CALL 9980100288 OR VISIT HERE
Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

Expenses on Transfer of Capital Assets

Expenses on Transfer of Capital Assets

Expenses on Transfer of Capital Assets.You are allowed to deduct expenses from sale proceeds from a capital asset, that wholly & directly relate to the sale or transfer of the capital asset. These are the expenses which are necessary for the transfer to take place.

property-tax

Expenses on Transfer of Capital Assets

Here are a few examples-

In case of Sale of a House Property, these expenses are deductible from the total sale price.

  • Brokerage or commission paid for securing a purchaser
  • Cost of stamp papers
  • Travelling expenses in connection with transfer – these may be incurred after the transfer has been affected
  • Where property has been inherited, expenditure incurred with respect to procedures associated with the will and inheritance, obtaining succession certificate, costs of executor, may also be allowed in some cases.

In case of sale of shares, you may be allowed to deduct these expenses

  • broker’s commission related to the shares sold
  • STT or Securities Transaction Tax is not allowed as a deductible expense.

Where jewellery is sold, and a broker’s services were involved in securing a buyer, the cost of these services can be deducted.

Do remember that expenses that you deduct from the sale price of assets for calculating capital gains are not allowed as deduction under any other head of Income Tax, these can be claimed only once.

image

At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time.

 

 

Expenses on Transfer of Capital Assets

Expenses on Transfer of Capital Assets

Expenses on Transfer of Capital Assets

Leave a comment

Your email address will not be published. Required fields are marked *