Capital Gain
This query is : Resolved
12 July 2010
A property was sold for Rs. 5,00,000/- and its indexed cost of acqusition comes to Rs. 3,00,000/-.
Therefore the capital gain wil be Rs.2,00,000/-
To avail the benefit U/s 54 the assessee buys a property within a month for Rs. 1,50,000/- and spends Rs. 1,00,000/- for the furniture and fittings.
Then how much will be the exemption for the assessee. Whether it should be Rs 2,50,000/- or Rs. 1,50,000/-.
Therefore the capital gain wil be Rs.2,00,000/-
To avail the benefit U/s 54 the assessee buys a property within a month for Rs. 1,50,000/- and spends Rs. 1,00,000/- for the furniture and fittings.
Then how much will be the exemption for the assessee. Whether it should be Rs 2,50,000/- or Rs. 1,50,000/-.
12 July 2010
Investment in residential house would also include cost incurred for making house habitable --
Saleem Fazelboy Vs CIT
Hence you can claim
Saleem Fazelboy Vs CIT
Hence you can claim
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