Dharmishtha (Account Assistant) (25 Points)
19 May 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178317 Points)
Replied 19 May 2017
If the sale proceeds of the plot sold is say Rs. 1 lakh (example), out of which you purchase flat for say 75K (75%); in that case 75% of your capital gains from the sale of plot is exempt u/s. 54F. Suppose you earned 60K as capital gains (after indexation) from the plot then you have to pay CG Tax on 25% of gains i.e. over 15K.
Investment in another plot has no exemption advantage.
Studentsca
(CA Practice )
(3577 Points)
Replied 19 May 2017
CAclubindia
