capital gain on property

Tax queries 795 views 5 replies

chetan

accountant

321 Points Joined April 2011

How to calculate long term capital gain on property and what i do for save the tax on this capital gain. There is any special exemption for government employee.

Please give me the solution for my this query.

Replies (5)

CA. ANKUR JAIN

CA.....

2800 Points Joined December 2007

There is no special exemption for govtt employees as such in capital gains

well for other exemptions and benifits you need to specify the NATURE of property you have....

Actually exemptions from long term cap gains is available u/s 54 on investment basis i.e you need to invest the amount of capital gains.

Eg:- if you have LTCG from sale of residential property then you have to invest the gains in some other residential property or in special bonds

Guest

Originally posted by : aNkuR jAin....................
	There is no special exemption for govtt employees as such in capital gains well for other exemptions and benifits you need to specify the NATURE of property you have.... Actually exemptions from long term cap gains is available u/s 54 on investment basis i.e you need to invest the amount of capital gains. Eg:- if you have LTCG from sale of residential property then you have to invest the gains in some other residential property or in special bonds

Alok Siddapur

Consultant

229 Points Joined February 2010

There is no special exemption for Govt Employee

CA ADITYA SHARMA

CA IN PRACTICE

16719 Points Joined May 2011

Originally posted by : aNkuR jAin....................
	There is no special exemption for govtt employees as such in capital gains well for other exemptions and benifits you need to specify the NATURE of property you have.... Actually exemptions from long term cap gains is available u/s 54 on investment basis i.e you need to invest the amount of capital gains. Eg:- if you have LTCG from sale of residential property then you have to invest the gains in some other residential property or in special bonds