Section 54 and 54f capital gains
This query is : Resolved
01 November 2014
Assessee invested the capital gain arising from sale of property in a plot and was going to construct house on the plot. he availed exemption u/s 54, 54EC in 2011.Due to certain reasons he was not able to construct the house( Map was not sanctioned by the Govt. and since he is NRI he now plans to not construct the house).Will the amount of exemption availed be taxable in 2014???? Can the assessee now invest the gains in Bonds u/s 54EC and avoid Taxation???
What will be the tax implications???
What will be the tax implications???
02 November 2014
once three years expire, the capital gains tax has to be paid....
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
- House Property Reporting in ITR
- TDS Claim year
- Relief u/s Section 89
- Rent lease agreement
- TDS Challan Code
- Lease agreement and tax on sale
- SALE BILL AGAINST GOODS RETURN
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Merchant Export Accounting
- Supply through E-commerce Operators
- CG after sale of flat
- 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
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
