R
Rabia Rabia
Dear sir/madam
I purchased a residential property in 1995 worth rs 90000 and sold the same in 2020 worth rs 90lac but as per circle rate and govt construction rate the cost of property is 35 lac and I sold rhe same for 90lac and purchased rhe new property worth rs 48lac and now reaming amount 42lac is tax exempted or not I don't want to invest the remaining amount in property
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Please contact at +91-9911744028. Will assist you in determining exemption/tax liability.
CA Puja Sharma 24 Mar 2021Generally you have to invest the whole amount to claim the exemption from capital gain but we will be needing some more information for give you the advice. You can connect with us ca.pujasharma@outlook.com
CA Naman Maloo 29 Mar 2021For calculating capital gain we need to know the cost of asset sold.
You can either mail at canamanmaloo@gmail.com for paid consultation or book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
S
Satish Kumar Prajapat
A residential house, where bill be shown in balance sheet ?
In Asset side under Fixed Assets
CA Puja Sharma 24 Mar 2021In case of individual balance sheet the house will be shown under Assets - Fixed Assets at the price paid at the time of purchase.
T&C applyS
Sunny Malhotra
Can a company file my income tax instead of giving form 16
Need to understand your query. Please contact at +91-9911744028
CA Roomi Gupta 22 Mar 2021Please contact @ www.tarunguptaca.com
T&C applyB
Babravahan P
Is Loan on FD better than home loan
D
D M
I have made a capital gain of Rs 50 lakh on shares where the overall share value is 70 Lakhs. I want to buy a house within one year of sell for 40 lakh. Can I apply for house loan(I will not use the sell proceeds for buy-ing house)and still use section 54F for tax savings. The shares were part of An employee stock ownership plan (ESOP) of a foreign company(USA)
We need to first check type of capital gain and then only comment on same.
You can book consultation on https://www.taxontips.com/tax-notice-personal-consultation/
To discuss more
As per our opinion, the net consideration should be invested for buying new property instead of taking housing loan.
CA Roomi Gupta 22 Mar 2021Please contact @ www.tarunguptaca.com
T&C apply
