I have a Capital Gain of Rs. 42,00,000/- from which I am eligible to Claim Rs. 28,00,000 u/s 54F. The remaining Rs. 14,00,000/- can it be Shown that I have given it to a Builder as advance for Re-modelling & Reconstruction and add it to the Cost of the House Property Purchased u/s 54F?
I am not getting any other option other than investing in 54EC or pay tax on 14Lakhs?
To Avoid Tax for now,
You may deposit Rs. 1400000 in a Separate Bank Account with Nationalized Bank before filing of Inocme Tax Return.
| Originally posted by : CA.Anupriya Agarwal | ||
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I have a Capital Gain of Rs. 42,00,000/- from which I am eligible to Claim Rs. 28,00,000 u/s 54F. The remaining Rs. 14,00,000/- can it be Shown that I have given it to a Builder as advance for Re-modelling & Reconstruction and add it to the Cost of the House Property Purchased u/s 54F? I am not getting any other option other than investing in 54EC or pay tax on 14Lakhs? |
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REFER TO SOMETHING CALLED "CAPITAL GAIN ACCOUNT SCHEME" (CGAS) ASK YOUR BANKER FOR MORE DETAILS...
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