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.
Message likes :
1 times
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
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public 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
