Long term capital gain 54f

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2014 i have sold a land non residential at rs 15l and my capital gain is rs 130000/
now I want to purchase a flat on rs 2000000/
bank loan I have got rs 2500000/ ( 200000/ for purchase and rs 500000/ for furnishing)
now I want to invest my capital gain amount rs 15L for additional construction in flat.

will I get tax benefit from LTCG?

Or suggest how can I save the tax.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

23 March 2014 you should be able to, please refer
V. Krishna Rao V/s. Deputy Commissioner of Income-tax, Circle 3(3), Hyderabad IT APPEAL NOs. 1866 & 1867 (HYD.) OF 2011 [ASSESSMENT YEAR 2008-09]

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

MUNISH KUMAR

nandeesh mashyal

madhu Reddy

Shailesh Prajapati

Credible HRM

Subscribe Now

Long term capital gain 54f

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

GST CONSULTANT

CA Final

Accountant

GST CONSULTANCY