KTN injecting to Kasongo even after he criticized Standard media through social media for their bold newspaper headlines. The journalists at KTN will go straight to heaven.
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The Orion spacecraft entered the lunar gravitational sphere of influence at 04:38 UTC on April 6 (7:38 am EAT).
The closest approach to the moon is anticipated at 2:00 am EAT on April 7.
The livestream is scheduled to commence at 8:00 pm EAT.:
https://t.co/azy3QnNyfT
LIVE: Watch with us as the Artemis II astronauts make their closest approach to the Moon, traveling farther from Earth than ever before. https://t.co/Zpy7GdTqA8
What happens when you inherit land... Then later sell it?
How does KRA tax it?
Let's go through this case. Simplified to today.
There is a guy called Dhanjal.
He inherited land from his father in 2014.
Years later, in 2022, he sold it for 178m.
He filed his capital gains tax (CGT) return as a law abiding citizen.
- But, CGT = Sales price - Cost price.
So, what cost will Dhanjal rely on here?
He went for the market price of that land in 2014.
The valuer had pegged it at 150m.
He computed & paid his taxes as:
- (178 - 150) x 15% = 4m.
KRA audited him.
It rejected his cost of 150m.
Their argument:
- You did not buy this land.
- You got it for free.
- Your cost is zero
They adjusted his tax to:
- (178m - 0) x 15% = 27 m
From 4m to 27m.
Dhanjal furiously ran to court.
He argued:
- The cost of inherited land cannot be zero.
- The law allows use of market value at the date of inheritance
The court looked at it⦠and agreed with him.
He won & KRAβs demand was set aside.
Lessons.
- The cost of inherited property is not zero
- Use market value at the date of inheritance
- KRA will push hard. Be firm.