Please Help: Capital Gain on Sale of Plot
Posted Date : 05-Oct-2015 , 05:46:12 pm | Posted By ASHISH GARG
an individual sold a plot. he invest in a land before 6 months from sale and wish to construct house property on it.Queries:
1. Whether cost of land will be taken in to consideration for construction cost.
2. whether it is to inst only such sum that remains in hand after deducting cost of land from it.
1. Whether cost of land will be taken in to consideration for construction cost.
2. whether it is to inst only such sum that remains in hand after deducting cost of land from it.
Category : Income Tax | Answers : 0 | Comments : 2 | Hits : 250
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padam jain
09-Oct-2015 , 11:34:46 amWhen he sold a plot then how he can build building on it.
ATIT D. SHAH
16-Oct-2015 , 11:16:48 pmYes, you can claim exemption for land as well as construction, provided the time limit for construction is adhered.