22 September 2014
I have sold a house property in Rs.14,00,000/- of which Cost of Indexation was Rs. 3,00,000/-. I have purchased a commercial property of Rs.14,00,000/- Will the commercial property be adjusted u/s 54??? If a do an investment u/s 54EC then it had to be done of the whole amount or only on the CAPITAL GAIN on it i.e.2,20,000/-?????
22 September 2014
exemption u/s54 is available only for residential house as you have purchased commercial house so it is not available. for section 54ec capital gain amount only to be invested
CAclubindia
