Bevin M 08 December 2015
We sold an ancetral House for 90 Lacs,(Stamp duty value also) of which my share is 20 lacs,
1)What under ITR-2,Capital Gain col. is the Value Under 50C?.
2) Can I Set off of my STCL to this Capital gain partly in the Same FY and put the rest in CGAS Bonds i.e NHAI/REC.?
3. Since I already own a house, Can I park my Gains in an CGAS in a bank, sell my present house and use all the proceeds to buy a new house within the next two years.
Advocate Kappil Cchandna (Expert Bail & Criminal Defence Lawyer at Delhi Supreme Court of India) 08 December 2015
Sir,
You can speak to CA Karan Chandna at 9871563826.
Warm Regards
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 08 December 2015
Long-term capital gains from selling a house get tax exemption if they are invested in buying or building a new house. The new house has to be bought one year before the transfer of the first house or within two years after the sale. The deduction allowed is equal to the actual investment or the capital gain, whichever is lower.
rajeev ranjan 27 February 2016
1if you have any business if yes, than try to loss in such business than such loss is setoff with capital gain
2if no business or profit from business than short term capital loss is setoff with LTCG
3 and purchase nhai or reca bond within 6 month from the date of transfer(sale)
4 you are a coowner than under 50c only your part
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