CAPITAL GAIN EXEMPTION

Direct Taxation

AS I SOLD PROPERTY IN F.Y. 2020-2021 WHICH WAS AQUIRED DURING F.Y.2015-16 AND PURCHASE SAME FOR 750000/- ON WHICH AGREEMENT TO LEAVE THE PROPERTY(AQUIRED BY TENANAT) HAS BEEN MADE IN FORM OF POWER OF ATTARNY FOR THE AMOUNT 3000000/- CAN 30 LAKHS BE CLAIM AS A DEDUCTION TO INVESTMENT IN NEW PROPERTY

Bhavesh Bhil

CA Final

★ 37K+

05-Oct-21 13:53

612

Answers (3)

no we cant claim

Madhu Mohan Reddy Devarapalli

ACCA Professional

★ 7K+

05-Oct-21 21:56

Madhu Mohan Reddy Devarapalli

no we cant claim

WHY? IT CANNOT BE CONSIDER AS COST OF INVESTMENT

Thread Starter

Bhavesh Bhil

CA Final

★ 37K+

06-Oct-21 11:39

If the amount is paid to tenant in relation to transfer, it is treated as an expense and can be deducted from sale consideration.

Yoga Vishnu

CA Final

★ 11K+

06-Oct-21 16:38