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Investment 50%in new house and 50%in NHAi bonds will IT Act permit for avoiding capital gains tax
Replies (6)
Yes. .
For NHAI bonds deduction limited to 50 lacs above 50 lacs deduction not allowed (sec.54EC)
and for availing deduction there are some conditions:
1. invested within six months from transfer
2.block in period 3 years
3. sale before completion of 3 years then taxable as LTCG
and for availing deduction there are some conditions:
1. invested within six months from transfer
2.block in period 3 years
3. sale before completion of 3 years then taxable as LTCG
For availing deduction for investment in new house conditions are (sec.54):
1.purchase within one year before or two years after from date of transfer
2. blockin period 3 years
3. sale before completion of 3 years then CG exempt shall be reduced from COA of new assets
1.purchase within one year before or two years after from date of transfer
2. blockin period 3 years
3. sale before completion of 3 years then CG exempt shall be reduced from COA of new assets
I think there is one more point, you can construct one house, within 3 years.
Yes,
you are right Suresh pai S sir but in question they wrote investment in new house not construction of old house
you are right Suresh pai S sir but in question they wrote investment in new house not construction of old house
They can consider that probable alternative if needed. I was suggesting that option.
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