An individual assessee had LTCG of Rs. 1.25 cr. by selling a plot.
He purchased a residential house for Rs. 70 lacs
What else could be done to decrease the LTCG so that Tax Liability for Assessee in Minimum.
Menu
Capital Gains
Replies (7)
U need to mention, what asset has been sold??
Dear Saliq,
Dhiraj is rite...
Anyways u can look for Sec 54EC (Govt. Notified Bonds)
Asset sold is a plot of Land
Hey, its plot of land???
Then the exemption for Residential House will be as per sec 54F...
And as correctly mentioned by Amir, remaining amount u can utilise to get exemption u/s 54EC..
Mr. Dhiraj is right to invest in 54ec but the investment in such limited to Rs.50 lakhs and the bonds prescribed are REC and NHAI. The bonds have to be kept for a minimum period of 3 years.
54ec...
Mr.Saliq Ansari
sec 54 F(Residential house) and 54EC (NHAI and REC bonds)
Recent Topics :
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
Related Topics :
CAclubindia
