Below are the transaction details :
1. Purchased one vacant site in the year 2000-2001 for Rs. 184000 ( one lakh eighty four thousand )
2. Sold the above in the year 2013-2014 ( 24-08-2013 ) for 1920000 ( Nineteen Lakshs Twenty Thousand )
3. Purchase another site on 14-02-2014 for Rs. 3839400 (thirty eight lakhs thirty nine thousand four hundred ) - ( 50 % share )
4. Given the above purchased site for joint venture on 20-03-2014 to develop residential flats for which out of the 12 flats i am eligible to get 5 flats .
I do not own any house or residential flat . Please let me know weather i am eligible for capital gains exemption.
Reagrds :
shekar
