21 June 2023
Hello Sir, My mother has two seperate land purchased before 2001,Now want to sell the land . (Tax planning) land 1 sold on 20 lakh and LTCG 10 lakh land 2 sold on 30 lakh and LTCG 20 lakh (Scenario 1 : land 1's LTCG amount deposited on 54EC (CG BOND) (Scenarion 2 : Land 2's enitre sales considertation amount deposited in CG account(BANK) and purchase new flat within 2 years(54F) (Scenarion 3 : land 1 & Land 2 entire sales consideration amount deposited CG account (BANK) under 54F (1st purchased a new flat from CG account after 1 year again purchase new flat to utilise the unabsorbed CG(Bank)** ** Land 1 and land 2 Sale value 50 lakh (deposited in CG account) 1st flat purchase on 35 lakh after 1 year again new flat purchase to absorbe the amount
CAclubindia
