Capital gain from sale of old house

Tax queries 489 views 1 replies

Hello, The query is :

I sold old house in July 2018 and CG as per valuation is 50 Lacs (Sales Value - Indexed Cost).

I own a flat jointly in name of my wife since 2005.

I purchased a plot from above amount for 40 Lacs in September 2018 and deposited  unutilized 12 Lacs in SBI Capital Gain Account. in July 2019

pending construction work by contractor.

Now the ITR-3 has to filed because I have income from Training & Coaching Profession also.

I have to claim exemptions under Sec54 for plot purchase and 54F for SBI-CG A/C - Is there any fault.

 

Thanks in advance. & Regards,

 

Replies (1)
Can claim 40 lakhs under 54 and balance 10 lakhs under 54F.


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