Capital gain exemption u/s 54
This query is : Resolved
30 June 2019
Sir/madam,
if an assessee sold residential property and again invest in residential property to claim exemption u/s 54 within stipulated time and payment made from funds other sources, so now whether assessee still eligible to claim exemption u/s 54?? because assessee received the sale proceeds of old property in bank account... but payment made for new property is from another bank account...
if an assessee sold residential property and again invest in residential property to claim exemption u/s 54 within stipulated time and payment made from funds other sources, so now whether assessee still eligible to claim exemption u/s 54?? because assessee received the sale proceeds of old property in bank account... but payment made for new property is from another bank account...
30 June 2019
Reinvestment need not flow from the sale proceeds of the old property.
Citation :-- ITO Vs. K. C. Gopalan (2000) 162 ITR (Ker) 566,569.
Citation :-- ITO Vs. K. C. Gopalan (2000) 162 ITR (Ker) 566,569.
Message likes :
1 times
30 June 2019
Thank your sir for your valuable feedback........
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- ECO SUPPLY REPORTIONG IN GSTR-1
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Payment to foreign customer
- Non issue of e way bill
- Subscription paid to foreign customer
- 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
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
