Long Term Capital Gains
This query is : Open
25 August 2020
ON 16/06/2020 LONG TERM CAPITAL GAINS ON SALE OF MUTUAL FUNDS HAVE ARISEN
I HAVE TWO QUESTIONS
WHETHER THE ABOVE LTCG CAN BE INVESTED IN PROPERTY OR HOUSE OR ANY OTHER SCHEME
ADVANCE TAX PAYABLE NEEDS TO BE PAID 100% BY 15TH SEPTEMBER OR IN INSTALMENTS
I HAVE TWO QUESTIONS
WHETHER THE ABOVE LTCG CAN BE INVESTED IN PROPERTY OR HOUSE OR ANY OTHER SCHEME
ADVANCE TAX PAYABLE NEEDS TO BE PAID 100% BY 15TH SEPTEMBER OR IN INSTALMENTS
26 August 2020
Yes, if you invest the amount in Residential house, then you can claim exemption under section 54F, tax could be zero.
And you need not pay 100% advance tax by 15th september, it has to be paid in installments.
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