Buying and selling house in overlap periov
This query is : Open
12 February 2015
Dear experts,
I have bought a house in 2006, selling it now Long term capital gain is 60L
I booked a apartment in Oct 2012,cost 110L which builder has promised to give by Oct 2016. I have paid 50L till date. balance 60L to be paid as per construction linked plan. Can I invest 60L capital gain here.
Bit doubt on section 54. It says you can buy before one year, or 2 year after sale of existing, or within 3 years you need to construct.
Since I booked in Oct 2012, but construction will finish in Oct 2016 only. can I take adjust LTCG of current house
regards
Chandra
I have bought a house in 2006, selling it now Long term capital gain is 60L
I booked a apartment in Oct 2012,cost 110L which builder has promised to give by Oct 2016. I have paid 50L till date. balance 60L to be paid as per construction linked plan. Can I invest 60L capital gain here.
Bit doubt on section 54. It says you can buy before one year, or 2 year after sale of existing, or within 3 years you need to construct.
Since I booked in Oct 2012, but construction will finish in Oct 2016 only. can I take adjust LTCG of current house
regards
Chandra
12 February 2015
1. yes Rs 60l on sale of house can be utilised in this apartment for saving tax.
2.you fall in 3 year if ur constructing
2.you fall in 3 year if ur constructing
14 February 2015
Thx Tusar
Can you pl. let me know. If from long term capital gain money is 60 L.
50 L given for builder+ registration for new house
6L spent on wood work
Is this 6 L can be spend from LTCG money
Can you pl. let me know. If from long term capital gain money is 60 L.
50 L given for builder+ registration for new house
6L spent on wood work
Is this 6 L can be spend from LTCG money
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
