Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2015 An proprietor firm situated in rural area has sold it's land and received capital gain amounted to 21 Lac, now such gain is invested in company by way of promoter contribution and company is formed in rural area.
under which section such capital gain can be exempted?????
Please reply urgent

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

26 September 2015 if the land is rural land, then only it is exempt otherwise the gain is taxable.

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2015 what if the land is the non agricultural land then is it taxable or not??????????

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

28 September 2015 If it is urban land, then the capital gain is taxable subject to however, the applicable exemptions.

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2015 Ya getting it but whether there are anu exemption available or not i m asking for that?
please it's urgent

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

29 September 2015 you can invest in capital gain BONDs

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Hemkumar

AJAY Kumar Agrawal

Rajasekar

CA Narender Yarragorla

Hitesh Desai

Subscribe Now

Capital gain

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA