Mutual fund gains
This query is : Resolved
27 July 2021
whether shortterm/longterm gains from debt or equity mutual funds if invested in buying flat are exempted from income tax if yes upto what value .
CA R SEETHARAMAN
(Expert)
27 July 2021
Only long term capital gains can be invested for one house property.
As per income tax laws, exemption from capital gains tax on sale of equity shares/mutual funds being long term in nature, is available in Sec 54F if the sale proceeds are utilised for the purchase or construction of a new residential property.
As per income tax laws, exemption from capital gains tax on sale of equity shares/mutual funds being long term in nature, is available in Sec 54F if the sale proceeds are utilised for the purchase or construction of a new residential property.
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
- Query on effect of registration of property
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- 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
