Capital gain section


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Querist : Anonymous

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Querist : Anonymous (Querist)
14 January 2012
According to Income Tax Act, What are implications of Income Tax when-

Is there any capital gain exemption available in following situation. And
which section of capital gain should apply on following situation.


-1. When Sale Proceeds of Commercial Building/Land put into purchase of Residential Building/Land.

- 2. When Sale Proceeds of Commercial Building/Land put into purchase of Commercial Building/Land.

When assesse/taxpayer have not any residential land/building.

15 January 2012 1. Section 54F would apply.
2. No exemption is available.

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 January 2012 -3. If When sale Proceeds of Urban (City) Agricultural Land put into purchase of Residential Land/Building.


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