Long term capital gains tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 November 2010
I have sold some property in October 2010 with a long term capital gain of Rs. 45 lakhs. I plan to invest this amount for 3 years in REC Bonds to avoid paying capital gains tax. If I sell a flat in November 2010 incurring long-term capital gains of Rs. 20 lakhs, can I avoid tax on this amount by investing it in REC or NHAI bonds in April 2011, given that the limit on investment in bonds in a given financial year is Rs. 50 lakhs?
02 November 2010
You have to invest within 6 month from the date of transfer. You can break the amount and deposit the amount in different period but both the dates must be within 6 months from the date of transfer.
07 November 2010
IN MY OPENION YOU HAVE TO INVEST BEFORE DUE DATE OF FILEING OF RETURN U/S 139
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
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Bank details not Visible on Traces Portal
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
