Capital gain
This query is : Resolved
08 July 2015
For the year 2013-14, our assessee sold one land at Punjab of Rs.1,65,00,000/- which purchase price of Rs.25,00,000/-(purchase for the year 2008) and one land at Bldg. at Roychowk, W.B. of Rs.1,13,30,000/- which purchase of Rs.8,65,000/(for the year 2009)-. This total amount he invested new flat at New Delhi of Rs.7,65,00,000/- from own fund and bank loan. Thus please calculated capital gain arises, mentioned capital gain section such as 54 & 54F.
08 July 2015
if the amount recieved from selling 2 land is not utilised for purchasing the new property then it shall be taxable as capital gain
08 July 2015
YOU HAVE TO BUY THE NEW PRORPERTY FORM SALE PROCEEDS OF OLD PRORPERTY THEN YOU CAN SAVE THE TAX. BUT AT RPESENT YOU HAVE TO PAY THE TAX.
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