Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 October 2012
THE ASSESSE HAS SOLD URBAN AGRICULTURAL LAND ON 20/02/2012 FOR Rs.50.00 LACS. THE STAMP VALUATION OF THE SAID LAND IS Rs.1.15 CRORE. THE ASSESSEE HAS INVESTED Rs.40.50 LACS FOR CONSTRUCTION OF RESIDENTIAL HOUSE PROPERTY (RHP) BEFOR 31/08/2012. THE FAIR MARKET VALUE OF THE SAID PROPERTY AS ON 01/04/1981 WAS Rs.4.00 LACS. THE INDEX WAS Rs.31.40 LACS THEREFORE THE AMOUNT OF CAPITAL GAIN AS PER SEC 50C COMES TO Rs.83.60 LACS. WHAT WILL BE EXEMPTION U/S.54F RS.40.50LACS OR AMOUNT INVESTED FOR RHP x CAPITAL GAIN / NET CONSIDERATION i.e. 40,50,000 x 83,60,000 / 50,00,000 = 67,71,600.
04 October 2012
Exemption u/s 54F will be 6771600.
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- ITR-3 File/Error Found
- Difff in ais receipts and gst turnover
- ITR-Capital Gain
- Rental income of jointly held property
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
