My doubts on capital gain


This query is : Resolved 

Quick Summary
This discussion clarifies the impact of new budget rules on capital gains tax for property sold in FY 2023-24. Specifically, it addresses changes to the exemption of Long Term Capital Gains (LTCG) under sections 54/54F of the IT Act, noting that the investment in a new property for exemption purposes is now capped at Rs. 10 Crores.

05 February 2023 I wish to know the implications on capital gain on property sold
after 01 Apr 2023 in FY 2023-24 as per the new rules announced
in the budget for the FY 2023-24 . Thanks

05 February 2023 After the passing of bill by both houses of parliament, as suggested under the bill, the investment in new house property will be capped at Rs. 10 Crs for exemption of LTCG u/s. 54/54F of IT act.

06 February 2023 Thanks a lot for your kind reply and advice. God bless.

06 February 2023 You are welcome.


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