Long term capital gain
This query is : Resolved
07 May 2014
I Have two residential flat in mumbai one on rented and another i use for self living.
My question is i have already sold rented house property in march 2014. and purchased a new residential property at rajasthan using capital gain amount.
I also want to sele second house which i have use as a self occupied house. please suggest that this long term capital gain can i use to construct in purchased rajasthan house or i shall purchase new one.
If i purchase new one than it is ppssible to claim thos LTCG because i have already one residential house.
how i calculate indexed capital gain if i paid to builder as per their demand letter according to conatruction linked.
please help
Regards
09 May 2014
1. under section 54 you have both the options either to construct in the house you purchased in Rajasthan or buy another one. there is no restriction. Indexation shall apply to each payment made to builder separately.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- New Garden in Place of Old Garden
- Indian IT Portal issue in computing tax as per UK-India DTAA
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
