capital gain on sale of plot
This query is : Resolved
seema singla
(Querist)
16 June 2011
I have sold a plot now. I will receive the payment after four months(Oct). I have one more house in my name. I want to purchase a new plot with the sale proceeds of the plot to avoid capital gain.
I have to make the payment of the new plot after three months(Sep).
My query is that Since the sale will take effect after four months and I want to purchase the new plot after three months, Is the purchase of new plot be adjusted against the old plot?
In this way, can the capital gain be escaped?
Plz reply as it is very urgent.
Thanx
I have to make the payment of the new plot after three months(Sep).
My query is that Since the sale will take effect after four months and I want to purchase the new plot after three months, Is the purchase of new plot be adjusted against the old plot?
In this way, can the capital gain be escaped?
Plz reply as it is very urgent.
Thanx
CA MANOJ GUPTA
(Expert)
16 June 2011
THERE IS NO CAP GAIN EXEMPTION IF U SELL PLOT AND BUY PLOT
CAP GAIN EXEMPTION IN THIS CASE CAN BE CLIAMED IF U SELL PLOT AND PURCHASE/CONSTRUCT A RESIDENTIAL HOUSE
CA MANOJ GUPTA
JODHPUR
09828510543
CAP GAIN EXEMPTION IN THIS CASE CAN BE CLIAMED IF U SELL PLOT AND PURCHASE/CONSTRUCT A RESIDENTIAL HOUSE
CA MANOJ GUPTA
JODHPUR
09828510543
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
