Hi Sir,
I bought a land on 2009 and sold it last month, now planning to repuchase land again, will I be exempt from capital gain?
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Land sold and repurchased
Replies (11)
No
instead cancel the sale deed executed by you last month
Then what is the solution to avoid capital gain Sir?
if you cancel the sale deed, then there's no sale of capital asset and hence no capital gain
To save Capital gains tax the amount can be invested in any house property (sec. 54F) or in Cap. Gain Bonds (sec 54EC) etc etc ....... for exemption...
mr. Krishna is enquired the ways to save CG tax on re-acquisition of land sold by him last month
Sir I sold the land and got the money from the buyer, how can I cancel the sale deed now, is it possible?
There are two ways to cancel a duly registered deed -
i) by consent of both the parties - which has to be via a registered cancellation deed, on which stamp duty is payable.
ii) Via court on proving that the document is bad in itself due to flaw in consent etc.
in neither of the cases do you get the registration fee back
i) by consent of both the parties - which has to be via a registered cancellation deed, on which stamp duty is payable.
ii) Via court on proving that the document is bad in itself due to flaw in consent etc.
in neither of the cases do you get the registration fee back
Hi Sir, Thank you for the update
Most Welcome ........
welcome mr.krishna
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