Capital gain
This query is : Resolved
CA Anurag Shukla
(Querist)
04 August 2011
if an assessee sells his industrial land so whether capital gain tax will be attracted or not.
if yes, then can he claim exemption how will he claim and under which section.
if yes, then can he claim exemption how will he claim and under which section.
CA Ghanshyam Joshi
(Expert)
04 August 2011
Capital Gain Tax will be attracted
Exemption u/sec -
Capital Gains not chargeable on investment in certain bonds [Section 54EC] - Eligible assessee – Any assessee - Quantum of exemption - Capital gains or amount invested in specified bonds, whichever is lower
Capital gains in cases of investment in residential house [Section 54F] - Eligible assessees: Individuals / HUFs - Transfer of plot of land is also eligible for exemption -
Exemption u/sec -
Capital Gains not chargeable on investment in certain bonds [Section 54EC] - Eligible assessee – Any assessee - Quantum of exemption - Capital gains or amount invested in specified bonds, whichever is lower
Capital gains in cases of investment in residential house [Section 54F] - Eligible assessees: Individuals / HUFs - Transfer of plot of land is also eligible for exemption -
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