Capital gain on plot
This query is : Resolved
25 June 2014
I sold a plot and made long term capital gain. I invested the amount in capital gain account scheme within 3 months.
And within 8 months purchased new house in Chennai. I already have one home in delhi.
Question is will I get benefit of section 54F.
If no, what can i do to save capital gain tax.
And within 8 months purchased new house in Chennai. I already have one home in delhi.
Question is will I get benefit of section 54F.
If no, what can i do to save capital gain tax.
25 June 2014
yes you will get deduction under 54F.....
25 June 2014
you can take benefit of under section 54F.
for that you can deposit the amount in capital gain a/c before due date of filing the return in which year you sold the property. and but the property with two year from the date of tfr. or construction the property in 3 years.
for that you can deposit the amount in capital gain a/c before due date of filing the return in which year you sold the property. and but the property with two year from the date of tfr. or construction the property in 3 years.
26 June 2014
Thanks all for reply
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