Capital gain
This query is : Resolved
05 October 2011
Dear Experts,
My query is
1) Land purchased in the year 1981-82.Rs. 10,000/-
2) Residential building constructed (from 1/04/2007-31/03/2009)in the year 2009 within 2 years construction completed.cost Rs. 2,00,000/-
3)House propety sold in the year 2009-10 Rs.5,00,000/-
what is the tax implication
and under which section assessee can get exemption
My query is
1) Land purchased in the year 1981-82.Rs. 10,000/-
2) Residential building constructed (from 1/04/2007-31/03/2009)in the year 2009 within 2 years construction completed.cost Rs. 2,00,000/-
3)House propety sold in the year 2009-10 Rs.5,00,000/-
what is the tax implication
and under which section assessee can get exemption
05 October 2011
ON LAND CAP GAIN WILL BE ltcg
ON BLDG IT WILL BE STCG
U CAN CLAIM EXEMPTION UNDER SECTION 54EC/54F IF U COMPLY WITH CONDITIONS MENTIONED THEREUNDER
CA MANOJ GUPTA
JODHPUR
09828510543
ON BLDG IT WILL BE STCG
U CAN CLAIM EXEMPTION UNDER SECTION 54EC/54F IF U COMPLY WITH CONDITIONS MENTIONED THEREUNDER
CA MANOJ GUPTA
JODHPUR
09828510543
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?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- 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
