Ltcg reinvestment of total profit on vacant residential site, without construction of house building. What happens if house building is not constructed within 3 years
Menu
Re investment of ltcg
Replies (5)
The LTCG exemption claimed over the plot gets taxable, in the 4th year.
Sell of asset long term Capital gain invest in house property .
Can I build small watchman shed, and secondly what is the definition of residential house according to income tax department
Yes, but that will not be 'A residential House property"
Residential house property means all types of property which wholly use for residential purpose only. It means commercial property or land are not included under residential house property.
No you will not get any benefit.
Recent Topic
- Forward tax charge gst related
- SBI direct mutual funds ITR
- 44AE Section
- FEMA compliant structure
- Tax obligation in AY 2026-27
- EFILING ITR2 FROM COMMON FILING UTILITY
- SBI gold bond interest
- PPF Interest Exempt - But what drop down to choose
- Itr2 or itr3 intraday trade 1 loss of 70 paise
- Calculation of IT
Related Topics
CAclubindia
