capital gain uis 54 allowed or not ?
This query is : Resolved
11 July 2010
i sold a house property of Rs. 60 lakhs on dated 29-03-2010, and purchase another house in May 2020,(date of purchase of house of Rs. 50 Lakhs ) but for acquition of this house, installments are paid from 2007, can i take exemption u/s 54 of income tax act, please advise me
11 July 2010
to claim exemption of section 54F house can be purchased within one year before from the date of sale, hence exemption can not be claimed since 2007 is not covered under prescribed period
12 July 2010
investment to be out of capital gain, applicant has been paying instalment even prior to sale of the property.
Plus
Purchase should be done within 1year from date of sale
Plus
Purchase should be done within 1year from date of sale
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
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
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
