Long term capital gain exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 April 2014
My client is going to sale his house in present financial year(FY 13-14), he dont want to pay Capital Gain. He want to invest gain amount into his brother's private limited. It is incorporated in FY 12-13. will he get capital gain exemption U/s.54GB...
Please suggest how can he get Exemption.. If this is not possible
Please suggest how can he get Exemption.. If this is not possible
30 April 2014
no. the company doesn't fall under the definition of eligible company.
the company should have been incorporated on or after 1 April 2013.
the company should have been incorporated on or after 1 April 2013.
30 April 2014
under income tax to save capital gain for selling of house one case
if he buy or construct house with his name .
otherwise not possible.
he have to pay tax.
if he buy or construct house with his name .
otherwise not possible.
he have to pay tax.
30 April 2014
Dear Rupesh Ji,
I again request you to kindly refer to income-tax provisions correctly.
Section 54GB provides for exemption in case of sale of residential property in the amounts are invested in a company formed from 1 april to the last date of return filing under 139(1) subject to conditions provided therein...
I again request you to kindly refer to income-tax provisions correctly.
Section 54GB provides for exemption in case of sale of residential property in the amounts are invested in a company formed from 1 april to the last date of return filing under 139(1) subject to conditions provided therein...
Message likes :
1 times
30 April 2014
ok this section will give you deduction
but this section give condition for availing exemption of caiptal gain.
but this section give condition for availing exemption of caiptal gain.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Annual return of gst limit
- Not able to file ITR
- TDS ON CASH WITHDRAWALS...
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Foreign inward in ITR
- 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
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
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
