What if i square off LTCL against sale of residential plot. while filing ITR (by showing equal amount of receipt & purchase amount of said residential plot).
Menu
LTCG exemption under section 54f on transfer of multiple plots
Replies (18)
What if i square off LTCL against sale of residential plot. while filing ITR (by showing equal amount of receipt & purchase amount of said residential plot).
Yes, you can deposit 7 Crs, in CGAS, 1988 to claim exemption u/s. 54F by investment in any single residential property.
The loss in residential property will reduce the LTCG by 10 lakhs. It will not add total sale consideration.
Thanks a lot sir. you got a very rich experience. There is so much to learn. 🙏
That's my pleasure..
Recent Threads
- Poll: Do you spend >30 min/day fixing Tally JSO
- Interest on Accident Claim by Minor
- Capital Gain and Basic Exemption Limit
- Loan to wife and interest income husband income or
- AOC-4 is not being filed
- Returning the shares gifted by daughter?
- Gst tax rate
- Accounting of Govt Grant in aid-Assam Tea Estate
- Utilizing Capital gains in new home construction
- Hi i have some doubt about my microsoft exam?
Related Threads
CAclubindia
