Queries related to LTCG

Tax planning 141 views 4 replies

Jitesh

Owner

23 Points Joined December 2010

1. If someone sells a property than in how many properties a person can invest to save LTCG

2. If that person doesn’t have supporting documents for COI than how can we calculate the COI while calculating capital gain.

3. Is there a clause which says a person can’t buy more than 2 properties on his/her name.

4. What if a person sells a property and transfer the amount to her son/ daughter’s account and they buy a property and gets rental income than will that income be clubbed in the source’s income?

5. If a person invest in 2 properties, can the remaining amount be invested in NHAI bonds ?

Replies (4)

1. one property
2. you can obtain the coi value from concerned SRO
3. yes... in respective sections such as 54, 54f
4. yes
5. investment can be made in 1 property only. remaining amount can be invested in nhai bonds

sachin tax performer

62 Points Joined February 2019

An individual can invest invest upto 2 properties within India from the ltcg arising upto 2 cr once in a life time. If ltcg more than than 2cr investment limit is 1 property. YOU CAN AVIL COI FROM YOUR REGISTRAR OFFICE. you can easily transfer money to you daughter without any tax implication and also there is no clubbing of rental income