Capital gains query
My client sold house property last week (In Sep 16). He got capital gains
He has entered into an agreement for purchase of a flat (Price-60 Lakhs) before 1 year (In June 15) and paid an advance of 25 Lakhs (In June 15 only)
But the registry of property has not yet happened. It is expected to be in Mar'17 and balance amount of Rs 35 Lakhs to be payable in Mar'17
Can he claim this investment in Flat u/s 54?
Menu
capital gain tax
Replies (1)
Yes, he is entitled to get exemption u/s. 54. As registry and possession both will fall within stipulated time frame.
Recent Topic
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
Related Topics
CAclubindia
