banner_ad

Capital gain in sale floor wise

Others 1474 views 3 replies

i had purchased full house ( 2 floors) of Rs 15 lakh in year 2010 and now i am selling 1 floor out of it for 17 lakh ( in year 2018) and expecting to sell another for rs 20 lakh in yearf 2020 so what is best option to manage capital gain tax as further also i have to purchase properties

Replies (3)
You can invest capital gain in any bond specified u/s 54EC of income tax.
For example if cost of 1 floor after indextn come out to be 9 Lakhs and you sell the same for 17 lakh you have to invest 8 Lakhs in notified bonds u/s 54EC with in 6 months from sell took place for a locking period of 3 years.
since you are planning to sell the 2 floor in 2020 you can purchase a under construction property now which will get completed after 2yrs from now. the capital gains of one floor sold now can be deposited in capital gains deposit account for current ay and claim exemption.
when you sell your second floor after two years you can utiluze the cost of the new flat by investing the capital gains of both the floors in 2020.
Alternately you can invest the capital gains of the first floor in 54EC bonds upto maximum 50lacs for 3 years lockin period and then after selling your second floor you can invest in new property
You have an another option as per section 54 if the house is residential house and income so derived is shown as income from house property.
You can either construct or purchase a new residential house within India (purchase with in 2 years after the date of transfer and construct within 3 years after the date of transfer).

Same above example.
If capital gain comes to be 8 lakh you have to spent the same for new/ Construction of a residential house. Than entire 8lakhs will be exmented from LTCG.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details