Ltpg on sale of residential land

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subodh kumar Srivastava (Querist)
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25 April 2018 I HAVE SOLD A RESIDENTIAL LAND (ALLOTED BY AGRA DEVELOPMENT AUTHY) IN APR 2017 FOR RS 16 LAKHS WHICH I PURCHASED IN JUL 2004 FOR RS 1.25 LAKH. SIR, MY QUERY IS
(A) LTPG TAX EXEMPTION WILL COME UNDER 54 OR 54 F.
(B) HOW MUCH SHOULD I INVEST TO PURCHASE/CONSTRUCT A RESIDENTIAL HOUSE LTPG WITH INDEXATION OR FULL SALE PROCEEDS.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 April 2018 i) 54F

ii) Net consideration.

Ps:- Net consideration", in relation to the transfer of a capital asset, means the full value of the consideration received or accruing as a result of the transfer of the capital asset as reduced by any expenditure incurred wholly and exclusively in connection with such transfer.

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