Capital gain
This query is : Open
13 November 2011
ONE OF MY CLIENT HAS SOLD A FLAT FOR 30 LACS ON 16.08.2011. NOW MY QUERY IS THAT:-
WHETHER HE CAN INVEST IN TWO PROPERTIES I.E. PURCHASE OF TWO RESIDENTIAL HOUSES/FLATS OR ONE HOUSE AND ONE PLOT.
SECONDLY IF DO NOT INVEST THE SAME UPTO 31.03.2012. THEN WHAT IS THE DUE DATE OF DEPOSIT IN CAPITAL GAIN ACCOUNT.LAST DATE OF PURCHASING OF TWO HOUSES. OR ONE HOUSE & ONE FLAT.OR ONE HOUSE & ONE PLOT( VACANT). LAST DATE OF FILING OF ITR IS 31ST JULY FOR HIM AS NO AUDITED CASE.
WHETHER HE CAN INVEST IN TWO PROPERTIES I.E. PURCHASE OF TWO RESIDENTIAL HOUSES/FLATS OR ONE HOUSE AND ONE PLOT.
SECONDLY IF DO NOT INVEST THE SAME UPTO 31.03.2012. THEN WHAT IS THE DUE DATE OF DEPOSIT IN CAPITAL GAIN ACCOUNT.LAST DATE OF PURCHASING OF TWO HOUSES. OR ONE HOUSE & ONE FLAT.OR ONE HOUSE & ONE PLOT( VACANT). LAST DATE OF FILING OF ITR IS 31ST JULY FOR HIM AS NO AUDITED CASE.
13 November 2011
To avoid any controversy, he should invest in a single Residential House.
The Last date of depositing the amount in Capital Gains A/c as well as for the purchase of new house is 31.07.2012.
.
However if he deposits the amount in CG A/c, it has to be utilised upto 15.08.2013
and in case of construction of residential house he should utilise the amount kept in CG a/c upto 15.08.2014.
.
The Last date of depositing the amount in Capital Gains A/c as well as for the purchase of new house is 31.07.2012.
.
However if he deposits the amount in CG A/c, it has to be utilised upto 15.08.2013
and in case of construction of residential house he should utilise the amount kept in CG a/c upto 15.08.2014.
.
14 November 2011
THEN HE CANNOT PURCHASE TWO HOUSES. OR HE CAN PURCHASE TWO HOUSES.
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- Relief u/s Section 89
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- 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
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
