Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2013
hi
can i buy multiple property (2or3 flats, of a plot and flat, ets) after selling my house.
i dont have any other property in my name
also if the amount deposited in Cap Gain Gaving A/C is not utilised 3 yrs after deposit is that amt taxable or that amt is tax free?
thanks
harshal
8928543484
can i buy multiple property (2or3 flats, of a plot and flat, ets) after selling my house.
i dont have any other property in my name
also if the amount deposited in Cap Gain Gaving A/C is not utilised 3 yrs after deposit is that amt taxable or that amt is tax free?
thanks
harshal
8928543484
CA PARAS BAFNA
(Expert)
16 June 2013
No one will deny you to purchase all whatever you desire.
.
You are required to invest your capital gains in one residential house or a single residential unit (if the multiple flats are purchased). To the extent -Capital Gains will be exempt.
.
Still the money is left- you are allowed to purchase any other property of your choice.
.
The unutilised money in Capital gains Savings account will be taxable as LTCG in the year in which the time limit gets over.
.
.
You are required to invest your capital gains in one residential house or a single residential unit (if the multiple flats are purchased). To the extent -Capital Gains will be exempt.
.
Still the money is left- you are allowed to purchase any other property of your choice.
.
The unutilised money in Capital gains Savings account will be taxable as LTCG in the year in which the time limit gets over.
.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
