23 May 2016
If a office is sold in month of July 2016 for one crore.index cost is 30lac and fifty lacs is invested under 54ec and tax paid on remaining 20 lacs.Now another office is sold in January for fifty lacs,indexed cost is 15 lacs and remaining capital gain is invested in 54ec bonds in April 2017 will I get LTCG exemption under this strategy.If my other income is 30 lacs than my total in come for year ended31/3/2017 will be 30 20= 50lacs is this right.(I ask this because I want to know that my income does not go above one crore than I will have to pay 15 surcharge.).
11 September 2016
Sir I know that for the first property I sell and when I deposit rs fifty lacs in current year within six month I will get exemption but my main query is for second property which I will sell in January and deposit the money in next financial year in April will I get exemption for that also to make it clear Two property sold and money paid for tax saving bond in the same year for one property and money paid for second property in next year (but within limit of six months from sell).Kindly advise.
CAclubindia
