LONG TERM CAPITAL GAIN EXEMPTION
This query is : Resolved
12 September 2020
My query is If after the sale of the old flat (in the case of this let's take the date of sale 25/09/2020) new flat is purchased 15/08/2022 then while filing ITR for FY 2020-21, what is the cost of the new flat to be taken for exemption purpose?
13 September 2020
Sale consideration is to be deposited in Long Term Capital Gain account (Saving/Fix) before the due date u/s. 139(1) for AY 21-22. This amount is to be used for purchase or construction of new residential house observing conditions of sect 54F. Amount fdeposited in LTCG a/c. will be considered for calculating exemption.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
