about sale of land
omkar sawant (5 Points)
14 July 2018
sir,there is exemption available related to sale of land
7 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195885 Points)
Replied 14 July 2018
Yes, provided Long term capital gain ....... for which you need to invest in capital gains bonds (sec 54EC) or a residential house property. (sec. 54F)........ to claim exemption over LTCG
dilip kumar duggar
(article assistant)
(116 Points)
Replied 15 July 2018
land received from ancentral should be taxed ???
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195885 Points)
Replied 15 July 2018
Not at the time of receipt of the property...... but tax liability arises on its trasfer/sale....
dilip kumar duggar
(article assistant)
(116 Points)
Replied 15 July 2018
timing of capital gain from when count when we receive or when our ancentral purchase....
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195885 Points)
Replied 15 July 2018
When original owner purchased the property.......... but if it is older then 2000-01; FMV as on 01.04.2001 is considered.
dilip kumar duggar
(article assistant)
(116 Points)
Replied 15 July 2018
how is calculated fmv as on 2000-01
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195885 Points)
Replied 15 July 2018
From Government Approved Valuers .....
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