LONG TERM CAPITAL GAIN EXEMPTION
This query is : Resolved
12 September 2020
My query is If after the sale of the old flat (in the case of this let's take the date of sale 25/09/2020) new flat is purchased 15/08/2022 then while filing ITR for FY 2020-21, what is the cost of the new flat to be taken for exemption purpose?
13 September 2020
Sale consideration is to be deposited in Long Term Capital Gain account (Saving/Fix) before the due date u/s. 139(1) for AY 21-22. This amount is to be used for purchase or construction of new residential house observing conditions of sect 54F. Amount fdeposited in LTCG a/c. will be considered for calculating exemption.
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Journal entry of busniess expenses
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- RATE AND HSN CODE
- TDS AND ITR ISSUE
- GST Rate for Catering Services
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
