Capital gain
This query is : Resolved
Kaushal J Hardasani
(Querist)
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/-?????
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/-?????
CA Parul Saxena
(Expert)
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
for section 54ec capital gain amount only to be invested
22 September 2014
for 54EC u only need to invest the capital gain amount.
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