Dear Sir,
On of my client sold residential Flat in Oct. 2014 earning LTCG Rs. 7 Lakhs & he also sold a Plot in Feb. 2015 earning LTCG rs. 11.50 Lakhs (Sale Consideration Rs. 15 Lakhs). Out of all the above receipt he has purchased a Non Agri. Plot Rs. 5 Lakhs on 30/03/2015 & Paid by A/c Payee Chq. which was cleared on 03/04/2015. he wants to construct a residential house on above plot (Const. Cost. Approx. 20 Lakhs). How much Minimum amount he has to deposit in capital gain a/c scheme so that Tax on capital gain doesn't arise? & whether constructing single house he can claim deduction under both section 54 & 54F.
CAclubindia
