benefit for capital gain

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sujeet shrivastava (Querist)
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10 September 2010 Dear sir

can capital gain expm.u/s54f may be cantinued after sale of the residential house within one month of filing return for ass.year2010-11.

Thanks.

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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11 September 2010 No, in this case earlier claimed exemption will be taxable as LTCG in that year, in which that new residential house property sold.

Regards!!!
Dinesh S. Adhikari

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NITIN SHARMA

NITIN SHARMA (Expert)
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12 September 2010 NO AS PER SECTION 54F NEW HOUSE PROPERTY
CAN NOT BE TRANSFERRED BEFORE 3 YEARS.IF THE ASET GET TRANSFERRED THAN THE PREVIOUS CAPITAL GAIN WILL BE CHARGED TO BE TAXED IN THAT P/Y IN WHIGH THAT ASSETS IS TRANSFERRED.

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