Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

Treatment of capital gain

Save Share

This query is : Resolved

sheetal (Querist)

13 October 2017 Mr. A has purchased open plot of land in the year jan 14 for Rs 3400000/- lakhs expended legal (stamp duty) Rs 3800000 in march 2017 & sold plot on 20/04/17 for Rs 29000000/-

Now he is going to invest Rs 48 lakhs in capital gain bond(u/s 54 EC)

balance of Rs 17500000/- he is going to puchase other than house proprierty, period for investment is til 31 st july 2018
Is correct? what is period of investment ? pl guide

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)

13 October 2017 I dont understand the stamp duty expense incurred in March 2017

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)

13 October 2017 Considering the purchase was in Jan 2014 and sales was in April 2017, 2 years has completed and the transfer is long term. In this case, investment in bonds must be done within 6 months from date of transfer i.e october 2017.

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