Capital gain
This query is : Resolved
20 September 2011
A has purchased the one residential flat at Rs 20,00,000 in 2006 & now he sale the same at rs 35,00,000 than as per income tax act cost as per inex will be calculated,suppose index cost is Rs 2500000 than there is capital gain of Rs 10,00,000 .
Now my ques is how can he save the tax on capital gain where he is builder also who purhase the flats & plots(for constrruction) both residential & commercial
Now my ques is how can he save the tax on capital gain where he is builder also who purhase the flats & plots(for constrruction) both residential & commercial
22 September 2011
Dear All,
Please Reply me soon
Please Reply me soon
23 September 2011
Exemption is only for residential house and not for commercial. If you invest in residential house then it is exempted and if you fail to invest then the entire amount is to be deposited in a separate account. You can also deposit or rather invest in Bonds u/s 54EC
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