info@vidhikarya.com

Corporate Services

Corporate Services Contact Us

Home > Free Legal Advice > Question Details

Vidhikarya Legal Questions Answered

100,000+ Legal Questions Answered

Last Updated On 12-Jul-2022

Tax

LTCG exemption under Section 54

I purchased a residential plot 8 months back to construct a house using the funds I borrowed from my husband. Now i sold a residential house owned by me and this sale brings L.T.capital gains. If I return the money to my husband from part of that capital gain, will it be considered as the exemption which is provided in section 54? (buy a property 1 year before or within 2 years after the sale) I plan to use the rest of the Capital Gain in the construction which i had already started 2 months back.

( Chennai, Tamil Nadu )

09-Jul-2022

Reply

A.

Dear Madam,
Your question will be answered by chartered account or auditor as it pertains to income tax related matter.

Posted On 12-Jul-2022

Kishan Dutt Kalaskar

View All Answers

Helpful

Share

Submit request

Submit Request

Post Your Legal Issue to connnect with Lawyers Online

Talk to a lawyer

Read Related Answers

Income tax on gift given to infulence a behaviour or gratification amount

Dear Client, The amount described in your query will not be treated as a genuine gift under income tax law. Any money received in consideration of not filing a complaint or suppressing information ma...

What should be the process of sending money to my partner

Dear client, Your tax liability will not depend on how you transfer the money, but on the legal structure of your business arrangement and how income is recorded in books under the Income Tax Act, 19...

Inclusion of different matter in one case

Dear client, In general, it is not legally advisable to include multiple, unrelated issues in a single case, unless they arise out of the same transaction or a continuous chain of facts and the court...

Not shared with me form 16 A

Dear Client, Form 16A is a certificate issued by your employer that details the Tax Deducted at Source (TDS) on your salary. It is typically provided by June 15 following the end of the financial yea...

BACK Arrears to NPS by employer

Dear Sir, You cannot claim this retrospectively as exempt in old years. If contribution exceeds ₹7.5 lakh in FY 2021-22 onwards, the excess portion is taxable in the current year....

Ask a Question

Ask a Question

Settle Your Dispute without going to Court

Read Blogs on Tax

What Is TDS and How Does It Work for Companies?

Posted On : May 13, 2024

What Is TDS and How Does It Work for Companies?

Navigating the Tax Landscape: How Legal Services Empower Individuals and Businesses

Posted On : May 13, 2024

Navigating the Tax Landscape: How Legal Services Empower Individuals and Businesses

Budget 2025

Posted On : May 13, 2024

Categories

You have selected a Lawyer whose location is different from your Location , if you wish to take phone consultation kindly pay and get the details of the Lawyers.

Type of Consultation	Fees
Phone Consultation	₹	Not Yet Updated
Meeting Consultation	₹	Not Yet Updated
Email Consultation	₹	Not Yet Updated
Video Conference	₹	Not Yet Updated
Request for quotation from the Lawyer.

Disclaimer

The Bar Council of India does not permit advertisement or solicitation by advocates in any form or manner. By accessing this website (www.vidhikarya.com), you acknowledge and confirm that you are seeking information relating to VIDHIKARYA LEGAL SERVICES LLP (The LAW FIRM) of your own accord and that there has been no form of solicitation, advertisement or inducement by VIDHIKARYA LEGAL SERVICES LLP or its members.
The content of this website is for informational purposes only and should not be interpreted as soliciting or advertisement. The User agrees that he/she is visiting the site on his own volition to seek more information about the firm and its Advocates.
The contents of this website are the intellectual property of VIDHIKARYA LEGAL SERVICES LLP.

OK Cancel

vidhikarya whatsapp Number