Long term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 March 2015
Mr X sold a long term Capital Asset for a sale considertion of Rs 15lakhs and earned a LTCG (Net) of Rs 5 lakhs after deducting indexation, expenses etc, the same Rs 5 Lakhs has been utilised by him for construction of a residential house on a plot of land he already owned since last 20 years, is he eligible for deduction u/s54F on this construction. At the time of sale of the said asset :-
1) he has one more residential house
2) He does have any other residential house
Thanks
1) he has one more residential house
2) He does have any other residential house
Thanks
12 March 2015
what capital asset was sold by Mr x is not mentioned?
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