Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 July 2012
I purchased a small piece of land in the name of my wife in 1983 for Rs 1500/- Now I intended to sell the same for Rs 10 lacs. can she invest the money in 1. my name 2. jointly in the name of my daughter and self in purchasing a house. She is already having two houses in her name.Does the income tax attracts in such cases. Pl discuss the law position and I am greatful if any case laws are given.
21 July 2012
Since she is already having 2 Residential Houses in her name, she can not get exemption U/s 54F by purchasing a third residential house in any mode or manner.
.
You may invest the capital gains U/s 54EC in Bonds of NHAI, REC etc.
.
.
You may invest the capital gains U/s 54EC in Bonds of NHAI, REC etc.
.
21 July 2012
Agree with above expert
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Payment of bonus act - notice pay recovery
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
