02 January 2009
If Non resident Indian sale House Property,do i claim deduction U/s.54 say Individual or HUF have to invest in residential house property within year 1 before. Q.2 if N.R.I HAVING LONG TERM CAPITAL GAIN INCOME ON SALE OF HOUSE PROPERTY HOW DO I CALCULATE income tax liability, Eg.PROPERTY PURCHASE DT.6.2.95 Amt Rs.525000 cost and sale on dt.31.12.08 Amt Rs.21 lacks Regards Dhaval Desai
03 January 2009
they cam purcahse a H.P two years after the date of sale or construct within 3 years of date of sale. just inflate the cost by cost inflation index & deduct it from sale which is long term capital gain.
CAclubindia
