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Long term capital gain

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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

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
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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.

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