Capital gains
This query is : Resolved
10 November 2017
During the year FY 2016-17, the client has sold the residential house and earn the long term capital gain of Rs.5,00,000 in the month of July-16 . Further he has also sold the jewellery and earned the long term capital gain of Rs.2,00,000 in the month of Aug-16.
Whether the client can utilise the long term capital gain earned on sale of jewellery for purchasing of another residential property including the capital gain on sale of residential house.
If yes, under which section he can claim the benefit.
If no, which is the best alternative so that client can minimize the tax liability.
Whether the client can utilise the long term capital gain earned on sale of jewellery for purchasing of another residential property including the capital gain on sale of residential house.
If yes, under which section he can claim the benefit.
If no, which is the best alternative so that client can minimize the tax liability.
11 November 2017
The assessee can buy a residential house by availing the benefit of section 54 and
54F jointly.
54F jointly.
Message likes :
1 times
13 November 2017
Thank you for your advice.
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
- Regarding Appointment of auditor in case of casual vacancy
- GST- DRC 03 RCM Liability
- Validity of form 15 G and 15 H on Interest on fixed deposit
- Conversion of Proprietorship Firm to Partnership Firm
- Updated return filing
- Query on managerial remuneration u/s 197 of CA 2013
- Supply to unit situated in SEZ
- Temporary GST registration
- TDS AFTER SUBMISSION OF 15G OR H
- Mismatch of Sales Invoice in GSTR-1
- GSTR 1- Amend Credit Note
- Audit of F and O T/O
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
Trending Online Classes
CAclubindia
