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CAPITAL GAIN EXEMPTION, Income Tax |
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CAPITAL GAIN EXEMPTION |
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X INCURRED CAPITAL GAIN FOR 1 CR BY SALE OF HOUSE PROPERTY. X IN PROPER TIME INVESTED IN NEW PROPERTY 1.25CR. HOWEVER OUT OF 1.25 CR HE INVESTED 50 LACS SELF AND BALANCE 75 LACS THRU BANK LOAN IN NAME OF X HIS WIFE AND TWO MAJOR SONS.HIS INVESTED SELF MONEY IN HIS BUSINESS. WHETHER EXEMPTION IS AVAILABLE TO X U/S 54 FOR PURCHASE OF NEW PROPERTY AND TO WHAT EXTENT. FURTHER HERE IT IS IMPORTANT TO NOTE THAT AS HOUSING LOAN STANDS IN NAME OF X AND 3 OTHER FAMILY MEMBERS , ALL ARE MAKING REPAYMENT AND TAKING BENEFIT OF ITR IN THEIR RESPECTIVE RETURNS. NO INVESTMENT HAS BEEN MADE BY OTHER THREE IN PURCHASE OF NEW HOUSE PROPERTY EXCEPT MADE BY X... Posts / Replies Showing Replies 0 to 0 of 0 Records No Post / Reply found for this query Old Query - New Comments are closed. |
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