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Exemption u/s 54

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2015 I allotted house on 04/10/1999 for Rs 131280/- ON HIRE PURCHASE BASIS BY HOUSING BOARD HARYANA. TO BE PAID IN INSTALLMENTS
possession revived on 06/01/2000
payment of installments along with interest in 2003-2004 total paid rs 184591/-
conveyance deed executed on 11/12/2013 expenses on conveyance deed Rs 11000/-
total amount paid rs 195591/-
sold on 21/12/2015 for rs 15,00,000/-
total indexed coast Rs 497563/-
LTCG 1500000- 497563 = 10020437/-
Purchase nsc for rs 500000/-
spend Rs 1600000/- on construction of new house ( wants Rs 1002437/- ltcg exemption u/s 54) I HAVE NO OTHER HOUSE IN MY NAME AS ON DATE
Arrange balance Rs 600000/- from housing loan from sbi
IS IT STCG OR LTCG ? ( AS ALLOT D ON 4/10/1999,POSSESSION RECEIVE ON 06/01/2000, CONVEYANCE DEED IS EXECUTED ON 18/12/2013)
WHAT IS INCOME TAX POSITION ON LTCG ?
SUNITA GUPTA






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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
31 December 2015 Its a long term capital asset. The date of allotment of the house is relevant for this purpose.
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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2015 sir kindly advice regarding ltcg exemption u/s 54
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