banner_ad

Capital gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
01 December 2015 Please advise whether exemption available u/s 54F for LTCG of two consecutive years on purchase of one house?
For eg., There is LTCG of Rs. 10 lacs in FY 2014-15 and exemption claimed for the same against purchase of residential house (Cost Rs. 45.00 lacs) on advance payment of Rs. 10.00 Lacs.In FY 2015-16, there is LTCG of Rs. 25.00 Lacs. Can we claim exemption u/s 54F against balance payment of same House property in FY 2015-16?
Kindly support with case law, if any.

Thanks in Advance
Profile Image

CA CS LAVESH VASYANI

Profile Image

CA CS LAVESH VASYANI (Expert)
04 December 2015 For claiming of deduction under sec. 54F, every transfer of residential property needs to be followed by corresponding investment in another residential property.

You can refer the case law of
" DCIT vs Ranjit Vithaldas"
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
27 April 2026
Senior Accountant

Jyoti K agarwal & co

Mumbai

Others

View Details