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Capital gains

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 May 2013 Dear sir\madam,

I like to know if any person sells its shop, which he has purchased 3 years ago, he would be liable to capital gains......

and where should he invest to save his capital gains?

Please do reply soon!!!!

Thanks ...
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CA Sourabh Agarwal

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CA Sourabh Agarwal (Expert)
12 May 2013 Want to purchase residential house property, then invest net sale consideration in Sec. 54F to get complete capital gain exemption.

Another option is RECL bond u/s 54EC which is maximum up to 50 lac within 6 months of date of sale of shop. It has to be kept for 3 years.
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Guest

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Guest (Expert)
12 May 2013 yes he is liable for short term capital gain u/s 50 of ITA, when depreciable asset is sold.

But Capital Gain will be arise only if the whole block is discarded or net consideration exceeds the written down value.
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 May 2013 ok thanks sir....
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