my client has sold home which he has got from his father , and purchased new home.
is he liable to pay LTCG???
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LTCG urgent
Replies (5)
yes, he is liable to pay LTCG
its depend
Yes CAPITAL gain applicable but short or long term depends upon period of holding and gain or loss can be found out after calculation only.
if your client has 1 residential house and purchase another one then such new house amount can deduct from the ltcg. means ltcg or amount invested w.e.i. lower
yes he has to pay LTCG . cost of acquisition will be cost to the previous owner & the indexation benefit is available from the date on which the property was transferred to the assessee. exemption under section 54 is available
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