Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2013
An individual has sold a plot of land in april 2013
it was purchased in the year 1980
i want to know what should be done to avail the deduction from LTCG by investing the sales proceeeds as the CG Bonds were not purchased within september 2013 (6months)
and
the assessee has already 2 house property in his name
kindly give the best possible solution to avail deduction u/s 54
waiting for quick reply
it was purchased in the year 1980
i want to know what should be done to avail the deduction from LTCG by investing the sales proceeeds as the CG Bonds were not purchased within september 2013 (6months)
and
the assessee has already 2 house property in his name
kindly give the best possible solution to avail deduction u/s 54
waiting for quick reply
02 December 2013
Section 54 is available only in respect of the transfer of a residential house.
.
In your case Section 54F was supposed to be
providing you the benefit. But the scheme of Section 54F is also not applicable.
.
So, in my view, there were two alternatives only and both are not beneficial to the assessee, so he may be advised to pay LTCG tax to avoid Interest U/s 234C.
.
In your case Section 54F was supposed to be
providing you the benefit. But the scheme of Section 54F is also not applicable.
.
So, in my view, there were two alternatives only and both are not beneficial to the assessee, so he may be advised to pay LTCG tax to avoid Interest U/s 234C.
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2013
Thanks a lot sir
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Applicability
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
