Long term capital gain
This query is : Resolved
30 December 2014
SIR,
I HAVE A URBAN LAND 4000 SQ. FEET. OUT OF 4000 SQ. FEET 1000 SQ.FEET SOLD OUT ON 24.12.2014.LONG TERM CAPITAL GAIN IS RS. 50.00 LACS.
SIR, IF I CONSTRUCT A COMMERCIAL OR RESIDENTIAL FLAT ON REMAINING 3000 SQ. FEET FROM CAPITAL GAIN OF RS 50.00 LACS THEN WHAT WILL BE TAX LIABILITY
SIR PLEASE GUIDE ME
WITH REGARDS
PANKAJ SRIVASTAVA
I HAVE A URBAN LAND 4000 SQ. FEET. OUT OF 4000 SQ. FEET 1000 SQ.FEET SOLD OUT ON 24.12.2014.LONG TERM CAPITAL GAIN IS RS. 50.00 LACS.
SIR, IF I CONSTRUCT A COMMERCIAL OR RESIDENTIAL FLAT ON REMAINING 3000 SQ. FEET FROM CAPITAL GAIN OF RS 50.00 LACS THEN WHAT WILL BE TAX LIABILITY
SIR PLEASE GUIDE ME
WITH REGARDS
PANKAJ SRIVASTAVA
CA R SEETHARAMAN
(Expert)
30 December 2014
You can claim exemption u/s 54F provided you have only one house property excluding the one proposed.
Rupesh Jain
(Expert)
30 December 2014
you cannot take exemption, due to you get exemption u/s 54F for residential property not on commercial property.
30 December 2014
SIR,
I WOULD CONSTRUCT RESIDENTIAL MULTI STORY FLAT FOR SALE OUT ,THEN WHAT WOULD BE TAX TREATMENT
WITH REGARDS
I WOULD CONSTRUCT RESIDENTIAL MULTI STORY FLAT FOR SALE OUT ,THEN WHAT WOULD BE TAX TREATMENT
WITH REGARDS
30 December 2014
SIR,
I WOULD CONSTRUCT RESIDENTIAL FLAT FOR SALE OUT THEN WHAT WILL BE TAX TREATMENT
WITH REGARDS
I WOULD CONSTRUCT RESIDENTIAL FLAT FOR SALE OUT THEN WHAT WILL BE TAX TREATMENT
WITH REGARDS
30 December 2014
SIR,
I WOULD CONSTRUCT RESIDENTIAL FLAT FOR SALE OUT THEN WHAT WILL BE TAX TREATMENT
WITH REGARDS
I WOULD CONSTRUCT RESIDENTIAL FLAT FOR SALE OUT THEN WHAT WILL BE TAX TREATMENT
WITH REGARDS
CA R SEETHARAMAN
(Expert)
31 December 2014
You have to pay capital gain tax.
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