Exemptions in capital gain
This query is : Resolved
dileep kumar kadambala
(Querist)
26 July 2014
hi friends,
we have a pvt Ltd company. we sold one of the land of the company which was included in block of assets of the company.so, we are liable to pay tax under the head of income from capital gain. is there any exemption provisions existed for getting exemption by putting reinvestment
thanks in advance..
Nikhil Kaushik
(Expert)
26 July 2014
yes it is taxable. for deduction refer 54EC,
Nikhil Kaushik
(Expert)
26 July 2014
yes it is taxable. for deduction refer 54EC,
26 July 2014
54EC can be claimed.
Equivalent citation under erstwhile section 54 E are -
CIT V ACE Builders P Ltd (2005) 144 Taxman 855(Bom).
CIT V Assam Petroleum P Ltd (2003) 131 Taxman 699 (Gau).
Equivalent citation under erstwhile section 54 E are -
CIT V ACE Builders P Ltd (2005) 144 Taxman 855(Bom).
CIT V Assam Petroleum P Ltd (2003) 131 Taxman 699 (Gau).
29 July 2014
but you must invest that within 6 months from the date of transfer.
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
- EPF ECR NEW FILE SEP 17TH 2026
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Oct 2025 Invoices
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Non filing of I T Returns
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
