Capital gain Tax
This query is : Resolved
05 April 2020
Dear sir,
I sold flat-A and Rs.200000 invested in capital gain fixed deposit scheme with Central bank of India in 2013 (As advised by CA). At that time I was paying money to under construction Flat-B which I bought before (This purchase mentioned in Annual Return). But I did not set off capital gain of Flat-A against Flat-B till this date.At present purchase agreement of Flat B is pending for registration. Now my question is,
1. Can I set off this capital gain against Flat-B in current year ?
2. How can I close the capital gain Fix deposit at Central Bank of India?
Request you to guide for this matter.
I sold flat-A and Rs.200000 invested in capital gain fixed deposit scheme with Central bank of India in 2013 (As advised by CA). At that time I was paying money to under construction Flat-B which I bought before (This purchase mentioned in Annual Return). But I did not set off capital gain of Flat-A against Flat-B till this date.At present purchase agreement of Flat B is pending for registration. Now my question is,
1. Can I set off this capital gain against Flat-B in current year ?
2. How can I close the capital gain Fix deposit at Central Bank of India?
Request you to guide for this matter.
05 April 2020
1 Not possible such benefit available only for purchase not for construction.
2 Now you can close it and pay capital gains tax.
2 Now you can close it and pay capital gains tax.
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Import license renewal
- Inventory of finished goods
- 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
