Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Tejas

Tejas Chokshi  | Answer  |Ask -

Tax Expert - Answered on Aug 07, 2023

CA Tejas Chokshi has over 20 years of experience in financial planning, income tax planning, strategic and risk advisory, banking and financial products and accounting and auditing.
He is an information system auditor, a forensic auditor and concurrent bank auditor.
Chokshi, who has a master’s degree in management, audit and accounting from Gujarat University, has completed his CA from the Institute of Chartered Accountants of India.... more
Deepak Question by Deepak on Jul 31, 2023Hindi
Listen
Money

I bought a land in 2006 and sold (got rid of) it in 2022. However, the sale value is equal to the purchase value as there no appreciation. In fact i realised that i actually bought ot at inflated price. The registration smount is equal to the sale / purchase amount. Is there any means to offset this loss during tax return file?

Ans: If you have sold a property at a value equal to the purchase value and you've incurred a loss due to factors like inflation or other costs, you might be eligible to claim a capital loss.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
Money

You may like to see similar questions and answers below

Latest Questions
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x