Ltcg on sale of residential house
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 August 2017
Assessee is having 4 residential house and shown income from house property for all the property. In this year he is selling 2 house and retain 2 house. LTCG on sale of these two house is utilised for purchase of another 1 house in the same year. Is this LTCG eligible for exe u/s 54
K Srinivas, CMA CS
(Expert)
16 August 2017
The new residential property must not exceed one property in order to claim exemption under sec 54
Message likes :
1 times
K Srinivas, CMA CS
(Expert)
16 August 2017
ltcg on sale of two property can be therefore invested in ONE residential property purchase.
Message likes :
1 times
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
- Gst credit note by supplier
- Missed uploading GST Invoice
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Additional trade name
- Visiting card purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
