Long term capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2015
I want to invest the entire long term capital gain money (arising from the sell of a property) in a residential property. How to prove that I have invested in a residential property U/s 54? I will pay the entire amount by cheque. However, the property will be registered at the circle rate and not at the market rate.
11 March 2015
the proof shall be the allotment letter from making investment in same.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2015
The purchase price of the property will not be specified in the property papers such as allotment letter or conveyance deed. Do I need to show any amount specific paper?
11 March 2015
there must be an agreement between u as buyer and seller -builder, so amount must have been mentioned in it.
while filling itr u do not need to attach or show any document just preserve all the documents with you and when assessing officer demands u must produce the same.
but u must fill up the capital gain schedule in itr.
while filling itr u do not need to attach or show any document just preserve all the documents with you and when assessing officer demands u must produce the same.
but u must fill up the capital gain schedule in itr.
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