TMI BlogLTCG on sale of old house.X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear sir, I have sold my 5 years old house on 19/11/2009 and booked LTCG of Rs35 Lacs.To avail Cap.gains tax exemption,I booked a flat for Rs 30 Lacs.To avail full exemption,can I buy Cap.Gains Bond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s for the balance of Rs 5 Lacs at the end of 3 years period allowed for construction? Please clarify.Thanks. Reddy S.R. - Reply By malhar shenoy - The Reply = To avail the exemption from Capital G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ain , the house to be purchased within 3 years subject to condition stipulated under section 54 . in the above referrred case the balance of Rs 5 lac not utilised for the purchase will be taxable as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... LTCG. To avoid the tax the amount can be deposited in Capital Gain Sheme a/c in the bank , for the purpose of utilising the same for contruction only . so the bond specified u/s 54EC has to be pu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rchased within 6 month from date of transfer. and in no case beyond that date or end of three year. - Reply By Reddy S.R. - The Reply = Dear Malharji, Thank you very much for your prompt reply to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... my query. Reddy S.R. - LTCG on sale of old house. - Query Started By: - Reddy S.R. Dated:- 8-12-2011 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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