Capital gain
This query is : Resolved
manna arora
(Querist)
28 March 2014
one of my client purchased plot on 27-02-2006 for rs 390000 and sold it as constructed house on 29-08-2012 from tht consideration he purchased 4 plots with in time period costing 1049000 and balance 900000 he transferred through account to any firm as unsecured loan so now what will be treatment of plots purchased and loan given will he get 54 f deduction for all 4 plots for assessment year 2013-14
30 March 2014
Investment in plot is not required by the provisions of section either 54 or 54F. The capital gains arising out of sale has to be paid and is taxable.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
