Capital Gian
This query is : Resolved
29 September 2008
Dear Sir
1. Take possession a flat on Janurary 2008 for Rs. 16,00,000 and in march 2008 sale this flat for Rs.25,00,000.
2. In may 2008 purchase another flat for Rs. 45,00,000.
I ask a question, can we get exemption from capital gain. or if i cannot get exemption then what is the amount of capital gail.
Thanks
1. Take possession a flat on Janurary 2008 for Rs. 16,00,000 and in march 2008 sale this flat for Rs.25,00,000.
2. In may 2008 purchase another flat for Rs. 45,00,000.
I ask a question, can we get exemption from capital gain. or if i cannot get exemption then what is the amount of capital gail.
Thanks
29 September 2008
You can not because the asset is not a longterm asset. The capital gain is shorterm capital gain
29 September 2008
I agree
29 September 2008
Sir
But i invested more in my another flat then we also give capital gain
But i invested more in my another flat then we also give capital gain
29 September 2008
does not matter as the exemption u/s 54 is available only for capital gains arises from the transfer of long term capital asset
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
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- 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.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
