long term capital gains
This query is : Resolved
07 August 2010
how much time period is permissible to reuse the long term capital gains without paying any tax.
example : Mr X have sold a flat in July 2010 which he had purchase in May 2006 and recived gain.
(1) Will Mr X have to pay income tax on long term capital gains in the year ending 31.3.2010, if Mr X use this gain for purchasing another flat after 31.3.2011.
If not, how much time duration Mr X can reuse the capital gain for purchasing another flat. ( before it was 3 years).
example : Mr X have sold a flat in July 2010 which he had purchase in May 2006 and recived gain.
(1) Will Mr X have to pay income tax on long term capital gains in the year ending 31.3.2010, if Mr X use this gain for purchasing another flat after 31.3.2011.
If not, how much time duration Mr X can reuse the capital gain for purchasing another flat. ( before it was 3 years).
07 August 2010
FOR PURCHASE ONE YEAR BEFORE AND TWO YEAR AFTER.
FOR CONSTRUCTION
WITH ION THREE YEAR FROM THE DATE OF SALE.
BUT YOU HAVE TO DEPOSIT THE AMOUNT IN CGAS A/C
FOR CONSTRUCTION
WITH ION THREE YEAR FROM THE DATE OF SALE.
BUT YOU HAVE TO DEPOSIT THE AMOUNT IN CGAS A/C
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- GST ON DAMAGED GOODS
- Suggestions required for income tax filing-software (FY 2025-26)
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Loan by Partnership Firm
- Taxation on LTCG for property sold after 24JUL2024
- TAN for Partnership
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
