54f

This query is : Resolved

Querist : Anonymous

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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

Anjani Pratap Tiwari

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

CA RAMESH KUMAR AHUJA

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

Querist : Anonymous

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.

CA RAMESH KUMAR AHUJA

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

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