Capital Gain Exemption
This query is : Resolved
15 March 2021
I alongwith my husband holding a residential property which was bought in abt 20 yrs ago in investment in equal ratio, We are planning to sell this property wherein are expecting to earn about 3.5 cr LTCG. We wish to invest this capital gain rather more than that in two different residential properties jointly.
1. As in this LTCG is going to be more than 2 cr, Is this limit is for individual separately?
2. Whether we can buy more than residential property? As capital gain ratio to individual is less than 2cr.
3. If yes, can we buy it jointly or two properties in individual names?
Kindly guide
1. As in this LTCG is going to be more than 2 cr, Is this limit is for individual separately?
2. Whether we can buy more than residential property? As capital gain ratio to individual is less than 2cr.
3. If yes, can we buy it jointly or two properties in individual names?
Kindly guide
16 March 2021
1 yes, limit applicable individually.
2 yes, you can buy two property.
3 Buy it in individual names.
2 yes, you can buy two property.
3 Buy it in individual names.
Message likes :
1 times
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
- CLOSING STOCK QUERY
- TDS on rent received on hardship compensation being rent on redevelopment of building
- ITR-Capital Gain
- Gst on travel by air for business purposes
- Query regarding reporting of exempt foreign remuneration in ITR
- Loss of interest in PF transfer from EPFO to Trust
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Taxation on Old jewellery sold
- NRI INSURANCE ADVISOR
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
