banner_ad

Long Term Capital Gain

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 July 2010 One person has 50% share in two residential properties since 1990, Out of two residential properties he has given one property on rent and sold one property in Sept. 2009.

The long term capital gain arised from sale of one residential property has been invested within 6 months in another two residentail properties.( here also 50% share)

Now after making the new investments in two residential properties the amount of investment is going more than long term capital gain.

So the amount excess invested can be setoff against income from rent

Or he has to pay tax

kindly advice
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
09 July 2010 Duplication
https://www.caclubindia.com/experts/long-term-capital-gain-428860.asp
Profile Image

DR GAURAV GUPTA FCA, FCS, LL.B

Profile Image

DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
09 July 2010 no it can not be setoff it is exempted u/s 54 which is availaible only against ltcg
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details