Capital gain query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2013
PLOT PURCHASED -40000 RS IN THE YEAR 1988-89
TOTAL PLOT AREA – 1350 SQ. FT
450 SQ FEET SOLD IN APRIL 2013 FOR 30 LACS, [9LACS RECEIVED THROUGH CHEQUE,21 LACS IN CASH}
CONSTRUCTION ON REMAINING 900 SQ.FT WAS STARTED IN MAY 2013 BY USING 21 LACS AMOUNT?
WHAT WILL BE THE CAPITAL GAIN?
HOW TO SAVE 9 LACS WHICH WAS GIVEN THROUGH CHEQUE?
TOTAL PLOT AREA – 1350 SQ. FT
450 SQ FEET SOLD IN APRIL 2013 FOR 30 LACS, [9LACS RECEIVED THROUGH CHEQUE,21 LACS IN CASH}
CONSTRUCTION ON REMAINING 900 SQ.FT WAS STARTED IN MAY 2013 BY USING 21 LACS AMOUNT?
WHAT WILL BE THE CAPITAL GAIN?
HOW TO SAVE 9 LACS WHICH WAS GIVEN THROUGH CHEQUE?
06 August 2013
Since you have started construction on the balance portion of the land you can show investment of capital gains and can claim the exemption u/s 54F but you should follow the provisions of section 54F(4) which speaks about opening of a separate account before the due date of filing of your return if you have not invested the entire capital gains
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2013
WHAT WILL BE THE CAPITAL GAIN?
HOW TO SAVE 9 LACS WHICH WAS GIVEN THROUGH CHEQUE?
HOW TO SAVE 9 LACS WHICH WAS GIVEN THROUGH CHEQUE?
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- GST ISSUE OF INPUT AND OUTPUT GST
- Tax rate change regarding
- UDIN ISSUE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- 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
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
