Capital gain exemption
This query is : Resolved
21 August 2015
Dear Experts,
An Assesee has purchased two flats near to each other on 03/07/2006.
Flat A and Flat B for Rs.830960/- each including stamp duty and registration charges.
On 13/10/2014 he sold the Flat A for Rs. 3820000/- and on 20/10/2014 he sold Flat B for Rs.3500000/-.
Again he buy a new flat for Rs. 5754000/- to claim exemption u/s. 54.
My question is shall I show the cost of acquisition of flats jointly in the computation or to show separately.
Waiting for your valuable suggestion.
An Assesee has purchased two flats near to each other on 03/07/2006.
Flat A and Flat B for Rs.830960/- each including stamp duty and registration charges.
On 13/10/2014 he sold the Flat A for Rs. 3820000/- and on 20/10/2014 he sold Flat B for Rs.3500000/-.
Again he buy a new flat for Rs. 5754000/- to claim exemption u/s. 54.
My question is shall I show the cost of acquisition of flats jointly in the computation or to show separately.
Waiting for your valuable suggestion.
21 August 2015
You can't combine cost since date of transfer and sales consideration are different.
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