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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 March 2015 My client purchase a plot in 2002,,, and make the boundary of the plot and sale the same plot in 2012.

further informed that client has also three house property at the time of sale of said plot, so he is unable to avail exemption u/s 54F

My query is, whether sale of said plot eligible is eligible for exemption u/s 54.?
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
09 March 2015 Section 54 exemption is available only on sale and purchase of residential house. However you may claim exemption u/s 54EC.
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