Long term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2016
SIR,
AN INDIVIDUAL HAS SOLD HIS ANCESTRAL LAND FOR RS.60.00 LACS AND GIVEN ADVANCE OF RS. 100.00 LACS WITHIN SIX MONTHS FOR PURCHASE OF LAND ON WHICH HOUSE TO BE CONSTRUCTED IN NEAR FUTURE.
SIR, WHAT WILL BE CAPITAL GAIN TREATMENT IN THIS CASE
WITH REGARDS
AN INDIVIDUAL HAS SOLD HIS ANCESTRAL LAND FOR RS.60.00 LACS AND GIVEN ADVANCE OF RS. 100.00 LACS WITHIN SIX MONTHS FOR PURCHASE OF LAND ON WHICH HOUSE TO BE CONSTRUCTED IN NEAR FUTURE.
SIR, WHAT WILL BE CAPITAL GAIN TREATMENT IN THIS CASE
WITH REGARDS
04 August 2016
The cost of construction of a residential house may be claimed deduction u/s 54F. Please refer the provisions of section 54F.
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
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- 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
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
