Capital gain
This query is : Resolved
Dilip Joshi
(Querist)
04 September 2013
Can anybody help me on how to invest the amount received on sale of land/property.
I heared latest provision is 50% need to invest in some kind of bonds and 50% in purchase of new property.
I do not know what is the latest provision.
I heared latest provision is 50% need to invest in some kind of bonds and 50% in purchase of new property.
I do not know what is the latest provision.
CA PARAS BAFNA
(Expert)
04 September 2013
If you want to know the provisions these are contained mainly in-
Section 54- Sale of Residential House-
Exemption available when you invest capital gains in new residential house.
Section 54F- Sale of ANY CAPITAL ASSET OTHER THAN A Residential House-
Exemption available on the basis of sale consideration invested in new residential house under certain restrictions.
Section 54B- Agriculture land against agriculture land
Section 54EC- Investment in Capital gain Bonds -Limit Rs 50.00 lacs.
.
Section 54- Sale of Residential House-
Exemption available when you invest capital gains in new residential house.
Section 54F- Sale of ANY CAPITAL ASSET OTHER THAN A Residential House-
Exemption available on the basis of sale consideration invested in new residential house under certain restrictions.
Section 54B- Agriculture land against agriculture land
Section 54EC- Investment in Capital gain Bonds -Limit Rs 50.00 lacs.
.
Dilip Joshi
(Querist)
04 September 2013
Thank you Sir
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