Long term capital gain and sec 54ec exemption related issue
This query is : Open
30 June 2016
i am an individual assessee i have received some amount as compensation from my landlord for vacating the house property. And i have used this long term capital gain in purchase of NHAI bond partly and the rest part is left unused.How to deal with the unused LTCG part left. How to do tax treatment for it?
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Read more at: https://www.caclubindia.com/forum/long-term-capital-gain-and-sec-54ec-exemption-related-issue--363924.asp
30 June 2016
in my opinion its capital receipts, and not taxable.
30 June 2016
YES ITS A CAPITAL ASSET AS IT IS RECEIVED ON CAPITAL ASSET. BUT HOW COME ITS NON TAXABLE?
30 June 2016
its capital receipts. ..................
01 July 2016
Relinquishment of tenancy right is also transfer under income tax and the compensation received is Capital gain and is eligible for exemption subject to investments made.
case law for reference
Archa Sharma, New Delhi vs Assessee on 31 August, 2012
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