Capital gain exemption u/s 54 for the a y 2013-14
This query is : Resolved
31 December 2015
I Sold Property 6.3.13 for 1,45,00,000
Purchase Index Cost 38,12,370
Net Capital Gain 1.06,87,630
U/s54 Advance paid on 28.3.2014 of Rs. 85,00,000
Balance Paid on 12.9.2014 of Rs. 25,00.000
Purchase site is registered on 12.9.2014
Officer is Saying i will allow only 85 lacks, balance of Rs.21,87,630 your are will be Taxable your are not kept under Capital gain Scheme with in 6 months (Only 6 days over ) so that amount will be taxable. Please clarify this sir. is their any case laws about this A Y.
Purchase Index Cost 38,12,370
Net Capital Gain 1.06,87,630
U/s54 Advance paid on 28.3.2014 of Rs. 85,00,000
Balance Paid on 12.9.2014 of Rs. 25,00.000
Purchase site is registered on 12.9.2014
Officer is Saying i will allow only 85 lacks, balance of Rs.21,87,630 your are will be Taxable your are not kept under Capital gain Scheme with in 6 months (Only 6 days over ) so that amount will be taxable. Please clarify this sir. is their any case laws about this A Y.
31 December 2015
Please provide the details of
- nature / type / name of property sold,
- type of investment
- date of investment
- whether IT return filed for FY2014-15?
- etc.
- nature / type / name of property sold,
- type of investment
- date of investment
- whether IT return filed for FY2014-15?
- etc.
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