Interest u/s 234B
This query is : Resolved
24 July 2011
i have earned Rs. 2000000.00 from sale of property in sept 2010
i have invested Rs. 1500000.00 in new property in March 2011
and paying Tax on the remaining amount
but do i have to pay interest u/s 234B or 234 C on it
sumit
i have invested Rs. 1500000.00 in new property in March 2011
and paying Tax on the remaining amount
but do i have to pay interest u/s 234B or 234 C on it
sumit
24 July 2011
In your case u have to pay interest on Capital Gain amount(Income) which remains uninvested and lieng with you.
You have to pay tax only on Capital Gain amount wchich you have earned.
If New investment exceeds the Capital gain then ther will not be any taxation u/s 54 or else if u want to claim deduction under 54F then you need to invest whole amount.
You have to pay tax only on Capital Gain amount wchich you have earned.
If New investment exceeds the Capital gain then ther will not be any taxation u/s 54 or else if u want to claim deduction under 54F then you need to invest whole amount.
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
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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 Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
