Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2013
An individual has sold a plot of land in april 2013
it was purchased in the year 1980
i want to know what should be done to avail the deduction from LTCG by investing the sales proceeeds as the CG Bonds were not purchased within september 2013 (6months)
and
the assessee has already 2 house property in his name
kindly give the best possible solution to avail deduction u/s 54
waiting for quick reply
it was purchased in the year 1980
i want to know what should be done to avail the deduction from LTCG by investing the sales proceeeds as the CG Bonds were not purchased within september 2013 (6months)
and
the assessee has already 2 house property in his name
kindly give the best possible solution to avail deduction u/s 54
waiting for quick reply
02 December 2013
Section 54 is available only in respect of the transfer of a residential house.
.
In your case Section 54F was supposed to be
providing you the benefit. But the scheme of Section 54F is also not applicable.
.
So, in my view, there were two alternatives only and both are not beneficial to the assessee, so he may be advised to pay LTCG tax to avoid Interest U/s 234C.
.
In your case Section 54F was supposed to be
providing you the benefit. But the scheme of Section 54F is also not applicable.
.
So, in my view, there were two alternatives only and both are not beneficial to the assessee, so he may be advised to pay LTCG tax to avoid Interest U/s 234C.
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2013
Thanks a lot sir
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