Hi All,
My mother sold 3 property worth 97 lakh and have bought property against that money.
Do I get any income notice for that. Everything is clear in transactions.
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Capital gain transaction: Value near to 1 crore
Replies (4)
FILE RETURN FOR THE CAPITAL GAINS AND DEDUCTION CLAIMED UNDER SEC. 54/54F OF IT ACT; YOU MAY NOT GET QUERY.
You will not get the query simply file ur returns report capital gains and claim the exemptions also under section 54f of it act 1961
Investment upto rs.1 crore is required.
if sold each property under 50 lakhs no TDS and purchased against that means a capital gain is utilized.
so why worry.
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