Capital gain
This query is : Resolved
18 May 2014
If i sold a plot of land for Rs,2 cr. & purchase a residential flat from the same for Rs.1.10 cr. What will be capital gain the tax implication ? What exemption Will i get u/s 54? On what amount i have to pay capital gain tax.?
21 May 2014
dear Amrish,
you get deduction under 54F. the taxable capital gains shall be computed as capital gains *40 lacs/1.5 cr.
you get deduction under 54F. the taxable capital gains shall be computed as capital gains *40 lacs/1.5 cr.
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