Capital gain
This query is : Resolved
22 December 2012
Hello sir/madam
I have a property (long term)other than residential property which i want to transfer. i also own a residential property in delhi (long term) and 50% share in residential property in jaipur (long term). if the full sale consideration realized from the sale of property, i invest in acquiring other 50% share in jaipur's property then will i get the exemption uder section 54f.
THANK YOU
I have a property (long term)other than residential property which i want to transfer. i also own a residential property in delhi (long term) and 50% share in residential property in jaipur (long term). if the full sale consideration realized from the sale of property, i invest in acquiring other 50% share in jaipur's property then will i get the exemption uder section 54f.
THANK YOU
23 December 2012
You are not fulfilling the basic eligibility condition for applicability of section 54F. You should not own more than one residential house as on the date of transfer of the long-term capital asset (other than residential house property). Hence you cannot claim exemption u/s 54F at all.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Bank details not Visible on Traces Portal
- Taxability of Partnership firm for FY 2025-26
- TDS ON EMAIL DOMAIN SERVICE BILL
- Journal entry of busniess expenses
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
