Amt to be deposited in CGAS?
This query is : Resolved
17 October 2019
suppose,I sold a house property for 30 lacs and its cost is 10 Lacs,now capital gains are attracted on 20lacs gain.To avail the benefit of sec 54 am I supposed to deposit 20 Lacs( gain amt) or 30 lacs( sale consideration) ( assumed the property is long term)
18 October 2019
Please deposit the amount of long term CAPITAL to get benefit u/s 54
18 October 2019
You have to invest only the amount of gain in the CGAS. If the indexed cost is 10 Lakhs, you would have to invest Rs. 20 Lakhs only.
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