Discuss the amount of exemption

Reference no: EM133269818

Question - Mrs Meera purchased a residential house property on August 6, 2019 for R 30 lakhs. She made certain capital expenditure for the house in the month of January 2020 for Rs2 lakhs. She disposed off the property in April 2021, for Rs 40Lakhs.

a. Discuss about the exemption available under section 54.

b. Considering Section 54, Discuss the amount of exemption if any, amount of type of capital gain taxable in the hands of Mrs. Meera if she purchased another property from the sales proceed in the month of May 2021.

Reference no: EM133269818

Questions Cloud

Every year fci holds a career fair : Every year FCI holds a career fair. Each year the committee starts from scratch to plan and organize the event. The system must manage the processes so that eac

Explain the design process model popularized : Explain the design process model popularized by the British Design Council, the phases and the activities involved, and the focus of the phases

Estimate the cost of unlevered equity : As the CFO of ADA Inc., you are estimating the firm's cost of capital. ADA's stock is trading at $24 per share - Estimate the cost of unlevered equity

Classify different emotions from input tweets : Suppose you want your computer to read Twitter data. Explain how you could leverage 1D CNNs to classify different emotions from input tweets.

Discuss the amount of exemption : Considering Section 54, Discuss the amount of exemption if any, amount of type of capital gain taxable in the hands of Mrs. Meera

How many bzr do they receive from jp morgan : Suppose the customer decides to sell 12 mio SAR to JP Morgan. At what rate do they trade and how many BZR do they receive from JP Morgan

What will be the price of aeye stock : Today is Dec. 31, 1990, and the firm's earnings are expected to grow at a rate of 10% for the next 10 years. What will be the price of AEye stock

High level digital literacy skills : Current high level digital literacy skills, with the confidence to support customers with diverse technology including online and virtual collections and servic

What challenges do companies face regarding managing data : BUSI 2173 Yorkville University What challenges do companies face regarding managing data? What is the role of Big Data in enterprises?

User Account

All Pages