1. Mr. A purchase a residential plot for Rs. 1.80 lacs in 1995 by signing a lease deed. Mr. A sell it to Mr. B for sale consideration of Rs. 30 lacs on September 2006. Now, Mr. A purchase a new residential plot in September 2006 under installment method and paid Rs. 10 lacs till March 2007.
Query
- What is the treatment for Capital gain?
- Whether Mr. A has to pay the LTCG & on what amount.
- Whether Mr. A can deposit the difference amount in the Capital Gain account scheme now.
- What is the LTCG if Mr. A purchases a commercial property.
- Can Mr. A invest the sale consideration amount in existing property’s outstanding amount.
2. If Mr. A purchase a commercial property and sale it after 3 years and invest the amount in the new commercial property then what is the treatment of LTCG.
3. If Mr. A purchase a commercial property and sale it after 3 years and invest the amount in outstanding amount of existing commercial property then what is the treatment of LTCG.
4. If Mr. A purchase a Residential property (getting the rent from the said property) and sold it after 5 years and purchase a commercial property then what is the treatment of LTCG.
5. What will be the actual date of transfer of property in case of builder flats / plots, Date of allotment or date of possession or date of sale deed.
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