Capital Gains Not Taxable When New Asset Cost Matches Net Consideration u/s 50C of Income Tax Act.

Capital Gains Not Taxable When New Asset Cost Matches Net Consideration u/s 50C of Income Tax Act. https://www.taxtmi.com/highlights?id=54867 Determination of LTCG - Valuation u/s 50C - the cost of new asset is not less than the net consideration, therefore, the whole of the capital gain is not chargeable to tax even if the capital gain is computed by taking the value adopted by the stamp authority. Hence, the assessee is entitled for exemption u/s 54F of the Act - AT en-us Tue, 22 Sep 2020 09:37:18 +0530 Tue, 22 Sep 2020 09:37:18 +0530 TaxTMI RSS Generator Capital Gains Not Taxable When New Asset Cost Matches Net Consideration u/s 50C of Income Tax Act. https://www.taxtmi.com/highlights?id=54867 Determination of LTCG - Valuation u/s 50C - the cost of new asset is not less than the net consideration, therefore, the whole of the capital gain is not chargeable to tax even if the capital gain is computed by taking the value adopted by the stamp authority. Hence, the assessee is entitled for exemption u/s 54F of the Act - AT Highlights Income Tax Tue, 22 Sep 2020 09:37:18 +0530 https://www.taxtmi.com/highlights?id=54867