regarding capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2010
AN ASSESSEE HAS INVESTED CAPITAL GAIN IN PURCHASE OF PLOT WITH IN TIME AS PRESCRIBED UNDER ACT BUT HE WAS NOT ABLE TO CONSTRUCT WITH IN THE TIME LIMIT.
WHEN THIS CAPITAL GAIN IS TAXABLE after time limit or capital gain arising f. year
WHEN THIS CAPITAL GAIN IS TAXABLE after time limit or capital gain arising f. year
04 December 2010
yes, purchase/construction of house within prescribe time is the the basic condition for exemption.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2010
sir if assessee invest capital gain in purchase of vacant plot and he is not able to construct the house within time limit. then in which year capital gain is taxable (i.e after the expiry of time limit or in the year in which the capital gain arises)
04 December 2010
it shall be taxable on Expiry of time limit, the capital gain earlier exempted shall be taxable @ tax rate prevailing in the year when time limit gets over
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
