LTCG
This query is : Open
31 May 2016
my friend sold his house in April for 1.8 crore. his share is 33%. can he avail tax benifit. aquisatiin period is 1983. sold year 2016. improvements cost is. 4 lakh (2015). so please suggest some tax savings plans just like capital gain scheme.
31 May 2016
Yes, he can avail tax benefit for his portion
Either invest the capital gains in purchase of a new property within 2 years from the date of transfer or construct a new property within 3 years from the date of transfer.
Else he may invest the gains in specified bonds of RECL /NHAI specified by GOI.
Either invest the capital gains in purchase of a new property within 2 years from the date of transfer or construct a new property within 3 years from the date of transfer.
Else he may invest the gains in specified bonds of RECL /NHAI specified by GOI.
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
- Inventory of finished goods
- Confusion around Form 26QB fields
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Disallowance of Section 43B(h) to sez units
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- GST Regis.
- Sale of property furniture sale
- Is correct way to find out capital of individual on 31st March
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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 einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
