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54f

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 March 2010 I have sold some shares and have Long Term Capital Gains. I plan to invest in a new house property to avoid the tax on LTCG. However, I already have one flat in my name. If i invest in another property will I get exemption for LTCG tax. Please clarify. Urgent
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
09 March 2010 Holding of only one flat is not a bar to claim exemption under section 54F provided other conditions mentioned in the section are satisfied.
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Anjani Pratap Tiwari

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Anjani Pratap Tiwari (Expert)
10 March 2010 LTCG on shares is exempt if stt is paid on sales consideration. so, if it is exempt no need to invest.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
10 March 2010 Agree with Mr. Anjani
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 March 2010 the shares i sold are unlisted and hence there is capital gains comign thereon. so can i invest in second house and avail beneift.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
11 March 2010 Yes, then you can invest as Mr. Chakrapani has suggested.
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