Capital gains on sale of residential property_Amendment
This query is : Resolved
02 September 2024
Dear experts,
Individual is selling a residential property in Sep 2024. This is bought in the year 2006.
Now as per recent amendment, option is available to seller :
- 20% on capital gains with indexation
OR
- 12.5% on capital gains without indexation
which ever is beneficial to the seller
Is the above interpretaion correct?
Also different exemptions available after further investestment in assests exists? irrespective of option undertaken?
Pls advice
Regards,
Individual is selling a residential property in Sep 2024. This is bought in the year 2006.
Now as per recent amendment, option is available to seller :
- 20% on capital gains with indexation
OR
- 12.5% on capital gains without indexation
which ever is beneficial to the seller
Is the above interpretaion correct?
Also different exemptions available after further investestment in assests exists? irrespective of option undertaken?
Pls advice
Regards,
02 September 2024
1. Yes, you are correct.
2. Yes, exemptions on LTCG available under both options.
2. Yes, exemptions on LTCG available under both options.
Message likes :
1 times
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- 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
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
