Long term capital Gain on Transfer of Property
This query is : Resolved
05 November 2009
Hi Friends,
Plz solve my query ASAP. Its urgent.
Query :
An individual purchsed a shop in 2002 for Rs. 400000 and Sold it in 2009 for Rs. 1250000/-.
How he can save tax arises on LTCG arises on sale of property.
If he deposit that amount in Capital Gain Account Scheme, Is that account is saving account. Whether he will receive interest or not.
Thanks
Plz solve my query ASAP. Its urgent.
Query :
An individual purchsed a shop in 2002 for Rs. 400000 and Sold it in 2009 for Rs. 1250000/-.
How he can save tax arises on LTCG arises on sale of property.
If he deposit that amount in Capital Gain Account Scheme, Is that account is saving account. Whether he will receive interest or not.
Thanks
05 November 2009
54F is the concerned section. Capital gains accounts scheme can be opened either as savings bank a/c or as term deposit a/c.
05 November 2009
Hi Friends,
Can section 54EC be appicable on the above query.
Can section 54EC be appicable on the above query.
05 November 2009
Hi Friends,
Can Section 54EC be applicable on above query.
Can Section 54EC be applicable on above query.
05 November 2009
Yes 54EC can avail if u so choose.
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
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- Pan Card apply for Self help group
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- 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.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
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
