Capital gain

This query is : Resolved

Dilip Joshi (Querist)
Follow

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.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

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.
.

Dilip Joshi

Dilip Joshi (Querist)
Follow

04 September 2013 Thank you Sir