Capital gain
This query is : Resolved
03 December 2013
Respected sir,
I have a residential plot in Jaipur and I want to sell. From this sale proceeds I want to purchase a shop which has a residential patta. Can I get any exemption in income tax on capital gain arising from it . What will be change if I plan to start a job work business from the newly purchased shop ?
With regards
Subhash Mishra
I have a residential plot in Jaipur and I want to sell. From this sale proceeds I want to purchase a shop which has a residential patta. Can I get any exemption in income tax on capital gain arising from it . What will be change if I plan to start a job work business from the newly purchased shop ?
With regards
Subhash Mishra
03 December 2013
Section 54F benefit should be claimed only in case of a residential house. The house must be a dwelling unit. In case, the exemption is disallowed, your tax liability may go higher.
.
There may be another problem from the side of Municipal Corporation.
.
So, take the advise of your local tax consultants first before planning.
.
.
There may be another problem from the side of Municipal Corporation.
.
So, take the advise of your local tax consultants first before planning.
.
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