Mr A has earned long term capital gain of Rs 40 lakhs on 1-1-2018
A and his son has purchased jointly under construction flat of Rs 1.50 crores as per purchase agreement dated 14-11-2016
Now , in may 2018, Mr A has paid Rs 50 lakhs to the builder as per purchased agreement
pl advise whether, Mr A can avail long term capital gain eXemption
Menu
long term capital gai exemption
Replies (4)
source and type of capital gain short or long
long term capital gain
As per Sec 54F, if a residential houseproperty is purchased exemption is available
provided Mr A does not own more than 1 HP on the date of transfer.
Amount Exempt =LTCG × Amount invedted/Net Consideration.
here Net consideration = Sale Price - Transfer Exp
provided Mr A does not own more than 1 HP on the date of transfer.
Amount Exempt =LTCG × Amount invedted/Net Consideration.
here Net consideration = Sale Price - Transfer Exp
here new under construction property purchased on 14-nov 16 ( i.e one year before sale date 01/Jan/2018 and payment to builder in may 2018
still he is eligible for exemption?
still he is eligible for exemption?
Recent Topics :
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
Related Topics :
CAclubindia
