i am working in propertiership firm, we purchased a land in 2008-09 in the name of propritor but in book as fixed assets
now we have sold the same in 2011-12,sold amt deposited in propertor a\c, in the same time we have purchased a new perperty in the of propertor ,
pls help is made capital gain tax
No capital gains as you have purchased new asset as prescribed within one year
VIKAS VERMA & CO
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CAclubindia
