Tenancy Rights of Residential House Located in Chawl sold

This query is : Resolved

Karaoke n piano Bhandarkar (Querist)
Follow

09 May 2020 Sir,
My Mother has One Residential Premises at chawl in Mumbai which was Purchased in the year 1970. In the Month of December 2019 Tenancy rights of residential House has been sold and Rs.30 Lacs has been received From Person who Purchased Tenancy rights of such House and 10% of Consideration has been paid to Landlord and Surrender Tenancy Rights . My Mother is 79 Years Old and Such Consideration received has Kept in Bank now Before Completion of Six Month from the date of sale of Tenancy rights is Long Term Capital Gain is Applicable and Is Any Tax Saving investment to Save the tax is Applicable for Sale of Tenancy Rights
Can You advice Better so that in Future there should not be any hasslement
please guide me and advice accordingly
thanks
Santosh Bhandarkar
9820056302
Email :- sanvas31@gmail.com

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

10 May 2020 Long term capital gains tax applicable on this amount. Deposit the amount in capital gains bonds for 5 years within 6 months.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Mahesh Balanthimugaru

Sridhar h s

Ashok Kumar Garg

RAJ SANKLECHA

Amit Chaturvedi

Subscribe Now

Tenancy Rights of Residential House Located in Chawl sold

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA