Capital gain from residential house
This query is : Resolved
15 March 2012
Sir, we bought the land in delhi some 20 years back in 1992 & constructed it 5 years back in 2007.Last year in march we sold it & bought new property(residential land) in june in delhi.Since i have to pay capital gain tax so how much time is left with me to pay it or for many months/years, there is no need to pay any tax for it?
17 March 2012
You should write full detail so that capital gain or loss can be ascertained. Suppose any gain is there then this gain should be invested before 1 year or after 2 year to date of transfer in a residential property. Meanwhile before the due date of return property is not finalized you have to keep in account for capital gain scheme 1988 or to be invested in specific infra bonds.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- FEMA regulation Act. for inward remitance
- GST ON TRAVELLING BILLS
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
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
