Capital Gain deduction fy-23-24
This query is : Resolved
13 May 2024
Sir/Madam
I have sale my house for Rs. 30 lacs and made following investment in May 24
> Invest in Open Plot in joint name of my son. total sales proceeds invested in this plot
> Balance amount of open plot -loan taken by my son from finance company.
Can i eligible deduction from capital gain arise from sale of my house rs.30 lacs
Please guide me.
I have sale my house for Rs. 30 lacs and made following investment in May 24
> Invest in Open Plot in joint name of my son. total sales proceeds invested in this plot
> Balance amount of open plot -loan taken by my son from finance company.
Can i eligible deduction from capital gain arise from sale of my house rs.30 lacs
Please guide me.
13 May 2024
Unless, you wish to construct house property over it, the exemption is not available over purchase of plot.
13 May 2024
Within how many years construction will be completed?
Under which section deduction is available?
Under which section deduction is available?
13 May 2024
The house property should be constructed within 3 years from the sale of your earlier HP.
In this case sec. 54 IT act, 1961 will be applicable.
In this case sec. 54 IT act, 1961 will be applicable.
07 September 2024
Good Luck.
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
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Copyright software
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
