Ltcg exemption under sec 54 f- reply urgently pl.

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Querist : Anonymous

Querist : Anonymous (Querist)

04 September 2011 Dear Sir,
If A buys a plot of land for Rs.2.7 lacs in 2002 & sells it for 20 lacs in 2011, what will be the LTCG. The stamp duty for acquiring the plot was approx. Rs. 30,000/-. Further, If A buys a house in 2011 for Rs. 15 lacs, how much exemption of LTCG will be available under sec 54F. The additional cost of stamp duty etc. for acquiring this new house is Rs. 80,000/-. What will be the amount of additional capital gains bonds to be purchased under 54EC to obtain complete exemption from payment of LTCG. Pl. send me the entire calculations.
With best regards,

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

04 September 2011 U get maximum exemption upto Rs.15.80 lacs and minimum of capital gain amount, i think ur well know how to compute LTCG. If the LTCG is more than Rs.15.80 lacs then the balance amount u have to purchase bonds i think in ur case the LTCG will be less than Rs.15.80 lacs. I think u have idea about terms and conditions to avail exemption u/s54F.
OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2011 Please give me the calculations of LTCG under sec 54 F & amount for which the Capital gains bonds are to be purchased. It is URRRRRRRRRRRRGENT PLEASE.

Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2011 URGENT REPLY IS SOLICITED