Long term capital gain on house
This query is : Resolved
11 May 2023
Respected sir
Could you please ascertain LTCG in the following case
land purchased in 2006 (6.50 ares )--Rs.300,000
sold 2.23 ares in 2012 --Rs.600,000( for constructing house(partial)at a cost of Rs.14 lakhs
Renovated the house in 2018-19 at a cost of Rs.30 lacs
Sold the house property in 23-24 for Rs.75 lakhs
Brokerage--Rs. 2 lakhs
Please also inform how to save LTCG
Thanks in advance
Could you please ascertain LTCG in the following case
land purchased in 2006 (6.50 ares )--Rs.300,000
sold 2.23 ares in 2012 --Rs.600,000( for constructing house(partial)at a cost of Rs.14 lakhs
Renovated the house in 2018-19 at a cost of Rs.30 lacs
Sold the house property in 23-24 for Rs.75 lakhs
Brokerage--Rs. 2 lakhs
Please also inform how to save LTCG
Thanks in advance
17 May 2023
Since it is LTCG, you can use section 54 , 54EC & 54F any one by investing in another house, bonds
Message likes :
1 times
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Section 50-fixed asset-->building ceases to exist
- Reprocessing of rectification order AY 2025-26
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
