Amt to be deposited in CGAS?


(Querist)
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)


CMA SIVAKUMAR A,ACMA. (Expert)
18 October 2019
Please deposit the amount of long term CAPITAL to get benefit u/s 54

Darshan Jain (Expert)
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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