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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 December 2014 A person who is NRI but citizen of india, has sold his house property situated in India in Jan, 2014. He wants to remit sales proceeds in abroad and buy house over there. Can he claim exemption u/s 54 ?
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Rupesh Jain

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Rupesh Jain (Expert)
19 December 2014 his income assessed in a y 2014-15 and for purchase of house he have to deposit the amount in capital gain a/c last date was 31.7.2014.
so income will be taxable and he have to pay tax on the gain on sale of property.

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