Regarding LTCG Exemption
This query is : Resolved
18 September 2009
If a person sells a plot for Rs 5 lakh on 30-3-2009 & Repurchases different plot of Rs 5 lakh on 20-7-2009. What will be the long term capital gains on such transaction?
Is LTCG exempt for AY 2009-10 on such transaction..
please help me guys with specific section.
Is LTCG exempt for AY 2009-10 on such transaction..
please help me guys with specific section.
18 September 2009
Yes it is exempt because Capital Gain is invested within 6 Month. or Before due date of filing return of income.
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19 September 2009
agree
19 September 2009
Query is about Plot but not Flat. Please, therefore, review in the light of following:
˜Capital gains from sale of a plot is not the same as capital gains from sale of a residential house"
Source: https://www.financialexpress.com/news/capital-gains-from-sale-of-a-plot-is-not-the-same-as-capital-gains-from-sale-of-a-residential-house/322914/
However, there is scope to get Exemption u/s 54-F, if residential house is constructed on Plot
˜Capital gains from sale of a plot is not the same as capital gains from sale of a residential house"
Source: https://www.financialexpress.com/news/capital-gains-from-sale-of-a-plot-is-not-the-same-as-capital-gains-from-sale-of-a-residential-house/322914/
However, there is scope to get Exemption u/s 54-F, if residential house is constructed on Plot
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