Capital Gain
This query is : Resolved
11 June 2008
Whether sale of land is cosidering for preparing individual total income statement for the financial year 2007-08
Sale of land during fy 2007-08
old value - 2.5L
current - 10 L
Its long term capital gain.Should this sale value can invest in reconstruction of house? there is any tax exemption? kindly pls give any advice to the above problems.
Sale of land during fy 2007-08
old value - 2.5L
current - 10 L
Its long term capital gain.Should this sale value can invest in reconstruction of house? there is any tax exemption? kindly pls give any advice to the above problems.
30 September 2008
Yes, capital gain can be invested and exemption can be availed
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