Deduction to save CAPITAL GAIN TAX
This query is : Resolved
Quick Summary
29 February 2024
I sold open plot of land in 1.40 crore. Indexed Cost of purchase is 0.24 crore. LTCG is Rs. 1.16 Crore. I want to save capital gain tax by following exemptions.
I have purchased Tax Saving Bonds (54EC) of Rs. 50 Lakhs and want to purchase new residential house value of Rs. 70 Lakhs (Sec 54F) . Thus total investment comes to Rs. 1.20 crore.
Queries
1. Can I claim both deduction u/s 54 F & 54 EC ????
2. If investment in bonds partly and investment in new residential house party is possible??
Please help.
I have purchased Tax Saving Bonds (54EC) of Rs. 50 Lakhs and want to purchase new residential house value of Rs. 70 Lakhs (Sec 54F) . Thus total investment comes to Rs. 1.20 crore.
Queries
1. Can I claim both deduction u/s 54 F & 54 EC ????
2. If investment in bonds partly and investment in new residential house party is possible??
Please help.
29 February 2024
1 yes.
2 yes possible but 54F require net consideration is to be invested.
2 yes possible but 54F require net consideration is to be invested.
Message likes :
1 times
01 March 2024
Thank you very much for your prompt help.
01 March 2024
You are welcome..
..
..
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
- Gst on travel by air for business purposes
- CLOSING STOCK QUERY
- Sale of Mutual Funds In Diffirent Financial Years
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- Missed TDS
- Rent claimed on building given on permissive possession basis
- ITR 44AD SECTION
- F&O reporting in ITR
- Gst reverse charge mechanism to be claimed in the month of payment
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
