Hi,
I occured capital loss while selling land, Do i need to invest my sales consideratin money in land only or i can invest anywhere?
What would be the case if i had earned gains in that deal.
CS RAJAN (ACS) (78 Points)
01 June 2018Hi,
I occured capital loss while selling land, Do i need to invest my sales consideratin money in land only or i can invest anywhere?
What would be the case if i had earned gains in that deal.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(172434 Points)
Replied 01 June 2018
If long term or short term loss in land....... no need to invest for exemption......
Only in case of long term capital gain, if you wish to save tax, you can avail such exemptions u/s. 54 etc......
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
