[aurangabad_ca] QUERY ON CAPITAL GAINS
Dear All,
I have two cases.
1) One of my client wants to sell her Residential Flat and purchase another.
- If she first purchases the NEW property out of partly won funds and , balance from HOME LOAN.
- Then She sells the old property after say 6 months and applies the funds towards payment of bank loan in entirety.
- Would she be exempt from Capital Gains tax ?
- The Client wants to sell the residential flat and invest in Agricultural land instead of investing the capital gains in another residential premises as per Section 54.
- In what way this may get exempted.
- He only wants to invest in agricultural land.
Thanks & Regards
--
CA Saiprasad P. Bagrecha
"It's best to have failure happen early in life. It wakes up the Phoenix bird in you so you rise from the ashes."
Dare 2 b Different...
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group's Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
.
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