Long term capital gain u/s 54
This query is : Resolved
20 January 2015
One our Customer to Sold out the Property House (Purchase in F.y.04/05 -Rs.250000) Rs. 785000 in oct. 2013 and purchase a new house in Sept.2014. He can avail the benefit of U/s 54. He is not invested in Capital Gain Scheme before income Tax due date Return...now what procedure the rebate u/s 54.
20 January 2015
it was purchased within 2 year from the date of transfer so is eligible for sec 54 benefit.
20 January 2015
Sir But not invest in Capital Gain Scheme..before Income Tax Due Date Return...
Rupesh Jain
(Expert)
20 January 2015
then you have to pay the tax on gain .
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