Income through sell of land via Power of attorney.
This query is : Resolved
Neeraj Vibhash
(Querist)
06 March 2024
Hi
I have sold a land for 72 lakhs by POA. How to show it in ITR. Can get tax exemption on the LTGG if I invest the money in purchase of new flat?
Thanks
I have sold a land for 72 lakhs by POA. How to show it in ITR. Can get tax exemption on the LTGG if I invest the money in purchase of new flat?
Thanks
CA R SEETHARAMAN
(Expert)
06 March 2024
Show it as long term capital gains and claim exemption under section 54F for purchase of new flat.
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