Taxation
YAGNESH HASMUKH DAVE
(Querist) 09 July 2013
This query is : Resolved
I PURCHASE FLAT IN 1983 AND I SOLD IT IN APR 2012 FOR 30LACS AND PRUCHASE NEW RESIDENTIAL UNIT FOR 38LACS IN AUG 2013 MY QUESTION IS AS FOLLOW
1-WILL I BE EXEMPTED FOR CAPITAL GIAN TAX
2-I HAVE PAID RESGISTRATION FEES OF 30,000 AND STAMPDUTY OF RS 190000/- WILL IGET DECDUCTION OF IT IN MY INCOME TAX RETURN AND TILL WHAT LIMIT
3- AS MY FORM 16 IS NOT RECVD CAN I FILE THE RETURN AFTER 31 JULY 2013
DILIP KUMAR AAGARWAL
(Expert) 09 July 2013
There will no capital gain tax as per the provision of section 54 of Income Tax Act.In your case two assessment are invovled 2013-14 & 2014-15.
if you have not claimed anything U/S 80 then you can claim upto one lakh of stamp duty in the aseesment year 2014-15.
you can file your return upto 31.03.2014 fro the asessment year 2013-14.
