Capital gains account

Share
Share This Thread
  1. Rohith P JOhn

    Rohith P JOhn New Member

    I have long term capital gains in FY-15-16 from the sale of immovable property (land and building). The the sale proceeds were parked in a capital gains account. When I file Income Tax return under which section I can can claim deduction. Under section 54, 54B, 54EC, 54D, 54F or 54GB?
    Thanks in advance.
     
  2. ZED

    ZED Well-Known Member

    How you want to utilize the exemption?
    Do you want to purchase/ construct a new residential house?
    If so then S.54 would be the appropriate provision.
     
  3. Rohith P JOhn

    Rohith P JOhn New Member

    Thanks. Yes build home, or purchase land, with in 3 yrs.
     
  4. Rohith P JOhn

    Rohith P JOhn New Member

    During the filing of ITR 2, shall we give the details of Capital gain account as well?
    Kindly advice.
     
  5. Rohith P JOhn

    Rohith P JOhn New Member

    Or that we are supposed to upload the account statement with ITR as given in this site under section 54? If so how?
     
  6. ZED

    ZED Well-Known Member

    You have to fill in the particulars as mentioned in schedule CG.
    Kindly check the same. ITR-2 is quite big, see only that portion which is applicable to you.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Release of Funds from Capital gains account Income Tax Jun 7, 2018
Capital Gains tax Income Tax Feb 12, 2018
Capital gains bonds investment in the name of deceased person Income Tax Feb 9, 2018
CAPITAL GAINS ON SALE OF PROPERTY Income Tax Jan 6, 2018
Capital Gains on House Property Income Tax Dec 31, 2017