Long term capital gain
This query is : Resolved
jagrut parikh
(Querist)
20 August 2015
I HAVE SOLD ONE LAND & FROM SALE I HAVE LTCG OF RS.5500000/-. IS THERE ANY POSIBILITIES TO INVEST THIS AMOUNT FOR TAX BENEFIT ?
I HAVE ALREADY ONE RESIDENCIAL HOUSE...
PLEASE REPLY...
I HAVE ALREADY ONE RESIDENCIAL HOUSE...
PLEASE REPLY...
CA R SEETHARAMAN
(Expert)
20 August 2015
You can buy another residential house and avail exemption u/s 54F.
Message likes :
1 times
CA Ayush Agarwal
(Expert)
20 August 2015
Within a period of I year before or 2 years after the date of transfer, a residential house should be purchased or constructed within a period of 3 years after the date of transfer.
The assessee should not within a period of one year purchase or should not within a period of 3 years construct any residential house other than the new asset.
If the cost of the new residential house is not less than the net consideration then the whole of the capital gain. Otherwise, Ami. invested ITCG —————– :— —- Net consideration price
The assessee should not within a period of one year purchase or should not within a period of 3 years construct any residential house other than the new asset.
If the cost of the new residential house is not less than the net consideration then the whole of the capital gain. Otherwise, Ami. invested ITCG —————– :— —- Net consideration price
Message likes :
1 times
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
- Gst registered proprietorship firm
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on purchase of under construction property from a reseller
- Capitalgain tax purposes for valuation report compulsory
- Non filing of I T Returns
- SALARY CAN BE CAPITALIZE
- TDS on Fixed Assets purchased
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- 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
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
