dear sir i have purchased a residential property in 2014 and same sold in 2020 and invest in purchase a commercial property in the same year 2020 then tell me is this capital gain or not and if yes then what is the tax liability as per law.
thanks
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Capital gain
Replies (4)
Quick Summary
Yes, It's capital Gain and taxable under income tax as long term capital gain subject to claim of exemption
Tax liability is subject to calculation of taxable capital gain with benifit of indexation.
Tax liability is subject to calculation of taxable capital gain with benifit of indexation.
But sir I have purchased a commercial property then why it will be taxable or capital gain
You have purchased a commercial property So, benifit of section 54/54F is not available
if u sale residential property and purchase other residential property than there will be no taxable capital gain
if u sale residential property and purchase other residential property than there will be no taxable capital gain
Thanks for you valuable information , sir please provide me section 54 /54F article with details
Warm Regards
Warm Regards
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