Cost of acquisition exemption of tax u/s. 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2013
if i have purchased plot of land in say 1987-88 for 30,000/-
Construction over this plot has been done in 1998-90 for rs.2,50,000/-
Sale of the same in 2013-14 for rs.40,00,000/-
how to calculate Capital gain....
whether exemption u/s. 54 is available? How much i have to invest?
Construction over this plot has been done in 1998-90 for rs.2,50,000/-
Sale of the same in 2013-14 for rs.40,00,000/-
how to calculate Capital gain....
whether exemption u/s. 54 is available? How much i have to invest?
02 August 2013
Indexation will apply for purchase year 1987-88 and cost of improvement year 1998-99
Sec.54 exemption applicable in case you are fulfilling the all conditions
Sec.54 exemption applicable in case you are fulfilling the all conditions
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