long term capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2009
An individual invested in idustrial plot booking 5 year ago ,now he sells it & purchase another indutrial plot . can he claim the exemption under the head of 'capital gains' chapter and under which section?
24 November 2009
Exemption available only on purchase of residential house property. Hence no exemption available
24 November 2009
exemption will not be available in the case mentioned by you,
but if you invest proceeds from the sale of long term capital assets withing 6 months after the date of transfer of original assets in the long term specified assets
the u will get exemption under section 54EC
but if you invest proceeds from the sale of long term capital assets withing 6 months after the date of transfer of original assets in the long term specified assets
the u will get exemption under section 54EC
24 November 2009
agree
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2009
very thankful to all of u to give me reply
19 December 2009
u will get exemption under section 54EC
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