Exemption from ltgs
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 October 2013
Dear Sir,
If a person is chargeable for tax on "Long Term Capital Gains," and he pays that money as an advance for purchasing new residential flat within a stipulated time and after one and half year, due to circumstances, he cannot go for registering that flat in his name
and he gets back that money from the builder which was given as an advance. In such a case, that person can again purchase another residential flat to get exemption from tax payable on LTGS?
If a person is chargeable for tax on "Long Term Capital Gains," and he pays that money as an advance for purchasing new residential flat within a stipulated time and after one and half year, due to circumstances, he cannot go for registering that flat in his name
and he gets back that money from the builder which was given as an advance. In such a case, that person can again purchase another residential flat to get exemption from tax payable on LTGS?
31 October 2013
Yes, but within the remaining stipulated time allowed to him under the section 54 or 54f,....
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
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Refund of AY 22-23
- Inventory of finished goods
- TDR receipts for agreement holder
- Sale of property furniture sale
- Disallowance of Section 43B(h) to sez units
- Filing of Form 10BB instead of Filing Form 10B
- Applicability of Ind As to associate of associate
- Intimation wrongly states taxpayer has offerred u/s. 44ad & states probable resolutiton to do audit
- Refund AY 2012-13 and 2013-14
- DIRECT TAX CODE 2025
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- 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
Trending Online Classes
CAclubindia
