Exemptions in capital gain
This query is : Resolved
26 July 2014
hi friends,
we have a pvt Ltd company. we sold one of the land of the company which was included in block of assets of the company.so, we are liable to pay tax under the head of income from capital gain. is there any exemption provisions existed for getting exemption by putting reinvestment
thanks in advance..
26 July 2014
yes it is taxable. for deduction refer 54EC,
26 July 2014
yes it is taxable. for deduction refer 54EC,
26 July 2014
54EC can be claimed.
Equivalent citation under erstwhile section 54 E are -
CIT V ACE Builders P Ltd (2005) 144 Taxman 855(Bom).
CIT V Assam Petroleum P Ltd (2003) 131 Taxman 699 (Gau).
Equivalent citation under erstwhile section 54 E are -
CIT V ACE Builders P Ltd (2005) 144 Taxman 855(Bom).
CIT V Assam Petroleum P Ltd (2003) 131 Taxman 699 (Gau).
29 July 2014
but you must invest that within 6 months from the date of transfer.
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