CAPITAL GAIN ,SECTION 54 F
This query is : Resolved
S.L SINGHAL
(Querist)
19 June 2011
MY LONG TERM CAPITAL GAIN UNDER SECTION 54 F ( SALE OF SHARES WITHOUUT STT PAID )FOR THE F.Y.2010-11 RS.1.85 CRORE & F.Y.2011-12 ESTIMATED 2.45 CRORE. WHAT CAN I DO TO SAVE CAPITAL GAIN TAX .2.CAN I PURCHASE ONE RESIDENTIAL HOUSE & USE OF BOTH F.Y.AMT.IN ONE HOUSE WITHOUT ANY CAPITAL GAIN TAX.
GIVE THE FULL DETAIS FOR THE F.Y.2010-11 & 2011-12. HOW CAN I SAVE CAPITAL GAIN TAX
GIVE THE FULL DETAIS FOR THE F.Y.2010-11 & 2011-12. HOW CAN I SAVE CAPITAL GAIN TAX
Ashok Asthana
(Expert)
20 June 2011
Whether CG is of short term or long term?
CA Rajendra Purohit
(Expert)
20 June 2011
Your query needs some more details. Whether it is short term gain or long term gain. From where you are going to earn this capital gain, is it from sale of land or shares or residential property?
17 May 2012
You can avail the exemption by investing in one residential house.
However,for claiming exemption in FY10-11, you have to deposit Rs. 1.85 crore before the due date in a Capital Gain Account Scheme. Then make payment for the house from this account.
For claiming exemption in FY 11-12 you have to invest the money in a residential house before the due date. If you are unable to invets the money, then you have to deposit the same in the Capital Gain Account.
However,for claiming exemption in FY10-11, you have to deposit Rs. 1.85 crore before the due date in a Capital Gain Account Scheme. Then make payment for the house from this account.
For claiming exemption in FY 11-12 you have to invest the money in a residential house before the due date. If you are unable to invets the money, then you have to deposit the same in the Capital Gain Account.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- 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
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Tax on Amount transferred in HUF Account
- 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
