Capital gain
This query is : Resolved
10 March 2015
Dear Sir,
My clinet have parental property which was purchased in 1988 @2000. Now he is selling said property in march 2015. I want to know that
1. Capital Gain Calculation
2. Time period to Open capital gain a/c and its locking period.
3. how can he use sold property amount for tax saving i.e. purchase new property, invest by other way.
Pl guide me. thanks
My clinet have parental property which was purchased in 1988 @2000. Now he is selling said property in march 2015. I want to know that
1. Capital Gain Calculation
2. Time period to Open capital gain a/c and its locking period.
3. how can he use sold property amount for tax saving i.e. purchase new property, invest by other way.
Pl guide me. thanks
Deepti Asawa
(Expert)
10 March 2015
Property selling price ? Without sale price we cannot calculate capital gain.
11 March 2015
1. provide the gross sale consideration and also check whether sec 50C is applicable in this case.
2.refer section 54.
3.invest in sec 54EC bonds if its non residential units.
2.refer section 54.
3.invest in sec 54EC bonds if its non residential units.
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