Capital gains

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 March 2016 I already have two residential properties in my name. Now I have sold another property and bought a third residential property. Am I eligible to claim benefit under section 54 with respect to the capital gains or I have to pay tax on the entire amount accruing to me.? Can I reduce the tax liability by purchase of some bonds? Please advise.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 March 2016 You can make use of Sec 54EC NHAI or REC bonds but you must invest ful capital gains in this bond within 6 months from date of transfer of old capital asset which should be only long term capital asset.

Querist : Anonymous

Querist : Anonymous (Querist)

10 March 2016 Can you please clarify if already owning two houses will be disqualification for claiming LTCG benefits in this case.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 March 2016 https://www.charteredclub.com/section-54/

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