Capital Gain
This query is : Resolved
23 January 2009
In F.Y. 2008-09 my client sold My Factory i.e. 500000 ( Purchase f.y. 1993-94 i.e. 180000) what tax for capital gain.
Then to purchase house or factory within three years. so will i eligible for capital gain tax ? u/s 54
Then to purchase house or factory within three years. so will i eligible for capital gain tax ? u/s 54
23 January 2009
Dear Sachin,
You have not disclosed the full facts,
As per the given facts,
(i) calculate the long term capital gain by indexation method.
(ii) If your clients purchases the house property, he can claim exemption u/s 54F.Refer sec. 54F for further conditions.
amarpal@icai.org
You have not disclosed the full facts,
As per the given facts,
(i) calculate the long term capital gain by indexation method.
(ii) If your clients purchases the house property, he can claim exemption u/s 54F.Refer sec. 54F for further conditions.
amarpal@icai.org
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