capital gain
This query is : Resolved
13 September 2017
Sold an residential house propery and purchased residential plot.
Whether deduction available under section 54 of income tax??
13 September 2017
mere plot purchase is of NO use......you need to construct on such plot.....may be small one...in order to avail section 54
13 September 2017
Has to Construct a house within 3 Yr of sale, and has to maintain the sale proceeds in separte LTCG Excemption account till the house is consturcted.
13 September 2017
Agree with the above points. And till such time you complete the construction within 3 years from the date of transfer, you can park the capital gains money in Capital Gains Account scheme in a Bank. You can withdraw the amount only for construction purposes.
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
- STCG....................................................
- Supply through E-commerce Operators
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- E way bill for tractors
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Loan by Partnership Firm
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
