LONG TERM CAPITAL GAIN EXEMPTION

This query is : Resolved

MOTI PUROHIT (Querist)
Follow

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?

Prakash Kochar

Prakash Kochar (Expert)
Follow

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

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

Venkateshwaran Ekambaram

Krishna Kumar A

v.rama krishna

NICKOONJ VANANI

madhuseshu yathirajam

Subscribe Now

LONG TERM CAPITAL GAIN EXEMPTION

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

CA Final

Senior Executive

GST CONSULTANT

Manager- Finance and Compliance