28 November 2013
Dear sir I want know which amount I should invest in CGAS to get full tax exemption on the CG.
For ex.: I have received Rs. 500000 from sale of a property and my CG is Rs. 150000. Which amount should I invest in CGAS.full of Rs. 500000 or CG of Rs. 150000 is enough to get full exemption on my CG
28 November 2013
Property has a wider meaning. . The purpose of opening CGAS is to invest the amount deposited in the Residential House Property within the prescribed period. . In case your so called "property" is residential house, invest capital gains Rs. 150000/- only. . In case your so called "property" is other than a residential house, invest 500000/- only.
CAclubindia
