Capital gain taxes regard

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prabhakar nath Sharma (Querist)

09 January 2025 In capital gain account only capital gain to be deposited or entire amount in sale deed to be deposited ...can I re pay home loan capital amount from sale of property amount and will it be treated as re investment of capital gains ..I need some clarification ...1. is opening of capital gain account for property compulsary . 2 I purchased plot in Pune in 2010 for 1.2 lakh , how much is capital gain if sold now for 23.lakhs approximate ..3 I purchased flat in Pune in 2011 for 16.38 lakhs , if sold now for 30 lakhs now , how much will be capital gain .4 till what time it has to be re invested ..if not till that time how much tax to be paid .

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

09 January 2025 In capital gain account only capital gain to be deposited or entire amount in sale deed to be deposited ... Depends upon the amount over which exemption is claimed.
For plot etc. total sell consideration (sec. 54F IT act)
For house property only capital gain ^sec. 54 IT act)
+can I re pay home loan capital amount from sale of property amount and will it be treated as re investment of capital gains .. Eligible provided house was purchased within one year before the sell of original asset.
I need some clarification ...1. is opening of capital gain account for property compulsory .
Yes, if amount not invested before filing relevant ITR & exemption wished to be claimed.

2 I purchased plot in Pune in 2010 for 1.2 lakh , how much is capital gain if sold now for 23.lakhs approximate .. Around Rs. 2.75 lakhs.
3 I purchased flat in Pune in 2011 for 16.38 lakhs , if sold now for 30 lakhs now , how much will be capital gain . NIL (with CII inflation)
4 till what time it has to be re invested ..if not till that time how much tax to be paid . To be invested before filing return in July 2025.

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