If some one sale land According to agreement in 2700000 but originally he is selling land only in 1700000 which he had purchased in 2013-14 rs 700000
Now how can he save ltcg if u have any suggestions then suggest
Menu
Capital gain
Replies (3)
Quick Summary
You can save in two ways
i) invest in RECL bonds or NHAI bonds upto 50 L rupees subject to condition that you shall not redeem upto 5 years.
FOR BETTER KNOWLEDGE REFER 54EC OF INCOME TAX ACT.
ii) buy a residential house property provided that net consideration is to invest in House property.
FOR BETTER KNOWLEDGE REFER 54F OF INCOME TAX ACT.
i) invest in RECL bonds or NHAI bonds upto 50 L rupees subject to condition that you shall not redeem upto 5 years.
FOR BETTER KNOWLEDGE REFER 54EC OF INCOME TAX ACT.
ii) buy a residential house property provided that net consideration is to invest in House property.
FOR BETTER KNOWLEDGE REFER 54F OF INCOME TAX ACT.
To avoid Tax on LTCG You have options -
a. invest LTCG (after indexation) amount in Capital Gains Bonds of REC NHAI under 54EC within six months from sale of land
OR
b) Invest the net consideration money into new Residential house under section 54F (Subject to section conditions)
a. invest LTCG (after indexation) amount in Capital Gains Bonds of REC NHAI under 54EC within six months from sale of land
OR
b) Invest the net consideration money into new Residential house under section 54F (Subject to section conditions)
If the land is situated outside the jurisdiction of municipality and the land is used for agriculture purpose then the total LTCG is exempt.
otherwise you can do the two ways discussed in above to get the benefit of LTCG.
otherwise you can do the two ways discussed in above to get the benefit of LTCG.
Recent Topics :
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
Related Topics :
CAclubindia
