Capital Gain
This query is : Resolved
22 February 2010
Capital Gain Deduction u/s 54 details
22 February 2010
Exemption of u/s 54 is available if:
1) Sold asset is Residential House Property
2) Should be held more than 3 years.
3) New puchased property is also Residential House Property(RHP).
4) New RHP should be purchased within 1 year before or withing 2 year after OR construct within 3 years after, from the date of purchase.
5) Capital Gains Accounts Scheme available for this.
6) New RHP should not be sold within 3 years from the date of construction/purchase, if sold then earlier claim exemption will be taxabla as STCG.
7) Emempt amount will be Capital Gain or Amount invested in new RHP.
Regards!!!
Dinesh S. Adhikari
1) Sold asset is Residential House Property
2) Should be held more than 3 years.
3) New puchased property is also Residential House Property(RHP).
4) New RHP should be purchased within 1 year before or withing 2 year after OR construct within 3 years after, from the date of purchase.
5) Capital Gains Accounts Scheme available for this.
6) New RHP should not be sold within 3 years from the date of construction/purchase, if sold then earlier claim exemption will be taxabla as STCG.
7) Emempt amount will be Capital Gain or Amount invested in new RHP.
Regards!!!
Dinesh S. Adhikari
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