Sale of house and buy anoher property
This query is : Resolved
16 May 2012
i have a house which is to be sold out and after that deal i would like to buy an agriculture land so what benefit i would get in income tax
16 May 2012
Capital gain from selling a house can be exempted only if the investment is made in another residential house property or specified bonds.
Investment in agricultural land is NOT eligible for any exemption.
Accordingly the capital gain arising on the sale of the house shall be chargeable to tax.
Investment in agricultural land is NOT eligible for any exemption.
Accordingly the capital gain arising on the sale of the house shall be chargeable to tax.
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
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
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
