sale of plot in fy 2019-20 - 600000
purchase was in 2004-05 - 82500
index cost of aquisation is
210996
so 600000-210996=389004 gross income
new plot purchase in fy 2019-20 - 373150
i want to know that can i claim deduction under section 54 series for purchasing new property, if yes then which section of 54 series in particular and what will be my net income from long-term capital gain?
i have to file itr for ay 20-21
please help
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LONG TERM CAPITAL GAIN QUERY
Replies (1)
Please refer section 54EC of the Income Tax act 1961 may be useful ,also confirm with others .
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