Capital gain tax
This query is : Resolved
26 June 2012
can anybody help me ;
mr X sold a site(land)in fy 2010-11.entire capital gain invested in flat purchase(only partial amt met) and he got exemption. In fy 2011-12, he sold another site(land) and now he intending to invest capital gain in same flat to met balance amt. whether he could get exemption on capital gain on second site sale?
mr X sold a site(land)in fy 2010-11.entire capital gain invested in flat purchase(only partial amt met) and he got exemption. In fy 2011-12, he sold another site(land) and now he intending to invest capital gain in same flat to met balance amt. whether he could get exemption on capital gain on second site sale?
27 June 2012
Yes he will be entitle to invest in residential house for exempting the capital gain from sale of land.
Message likes :
1 times
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
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Traces submitting correction statement error
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- LIABILITY ADJUSTMENT
- Grand in aid
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- TDS on property - Form 141 query
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- 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
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
