JJ Tax Blog

Share this post

Capital Gains Exemption

blog.jjfintax.com

Capital Gains Exemption

Jasleen
Sep 28, 2021
Share this post

Capital Gains Exemption

blog.jjfintax.com

Example: Suppose a long-term agricultural land is transferred by an individual on April 16, 2020 

Then to claim exemption under this section assessee must:

  • Purchase another agricultural land within April 16, 2022

Example: Suppose a long-term land or building used in an industrial undertaking is compulsorily acquired on April 20, 2020 & compensation is received on September 15, 2020

Then to claim exemption under this section assessee must:

  • Purchase another land or building for the use of same purpose within September 15, 2023

    Example: Suppose long term land or building or both is transferred by an assessee on April 5, 2020 

    Then to claim exemption under this section assessee must:

    • Invest in specified bonds within Oct 5, 2020

Example: Suppose a long-term capital asset is transferred on April 10, 2020 

Then to claim exemption under this section assessee must:

  • Purchase: New house within April 10, 2019 before original transfer or within April 2022 after transfer

Construct: New house within April 10, 2023 after original transfer

Share this post

Capital Gains Exemption

blog.jjfintax.com
Comments
TopNewCommunity

No posts

Ready for more?

© 2023 JJ Tax
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing