Hi
How to calculate long term capital gain on property and what i do for save the tax on this capital gain. There is any special exemption for government employee.
Please give me the solution for my this query.
5 Replies
CA. ANKUR JAIN
(CA.....)
(2800 Points)
Replied 01 May 2011
There is no special exemption for govtt employees as such in capital gains
well for other exemptions and benifits you need to specify the NATURE of property you have....
Actually exemptions from long term cap gains is available u/s 54 on investment basis i.e you need to invest the amount of capital gains.
Eg:- if you have LTCG from sale of residential property then you have to invest the gains in some other residential property or in special bonds
(Guest)
| Originally posted by : aNkuR jAin.................... | ||
 |
There is no special exemption for govtt employees as such in capital gains well for other exemptions and benifits you need to specify the NATURE of property you have.... Actually exemptions from long term cap gains is available u/s 54 on investment basis i.e you need to invest the amount of capital gains. Eg:- if you have LTCG from sale of residential property then you have to invest the gains in some other residential property or in special bonds |
 |
Alok Siddapur
(Consultant)
(229 Points)
Replied 10 May 2011
There is no special exemption for Govt Employee
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 22 May 2011
| Originally posted by : aNkuR jAin.................... | ||
|
|
There is no special exemption for govtt employees as such in capital gains well for other exemptions and benifits you need to specify the NATURE of property you have.... Actually exemptions from long term cap gains is available u/s 54 on investment basis i.e you need to invest the amount of capital gains. Eg:- if you have LTCG from sale of residential property then you have to invest the gains in some other residential property or in special bonds |
|
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 22 May 2011
Fully agreed witt ankurs view.
Recent Topics
- Interest free loans from directors in private limi
- Section 194T
- Paying GST on Residential House Construction
- Gst credit ledger input
- Income Tax Filing after Portal Deadline
- LTCG u/s 54 -Time Period Related
- Clarification -GST registration
- TDS on commercial bus insurance payment
- Do we need Environmental Clearance certificate for
- GST Rate confussion
Related Threads
CAclubindia
