capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 August 2010
i sale a commercial property is it compulsary i invest capital gain in only in commercial property or bond.not in ordinary property.
if i own the one residential house whether i can invest u/s 54F
if i own the one residential house whether i can invest u/s 54F
Aditya Maheshwari
(Expert)
20 August 2010
On sale of commercial property held for more than 3 yeards the sale consideration should be used to purchase house property to claim exemption u/s 54F or bond u/s 54EC.
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CMA Arif Farooqui
(Expert)
30 August 2010
no, it is not compulsory to invest in a commercial property.
you can claim exemption u/s 54 F, if capital gain is long term and you have not more than 1 residential house property on the day of transfer except new one which was purchased for claim exemption.
you may invest in specified bonds too, to claim exemption u/s 54 EC.
you can claim exemption u/s 54 F, if capital gain is long term and you have not more than 1 residential house property on the day of transfer except new one which was purchased for claim exemption.
you may invest in specified bonds too, to claim exemption u/s 54 EC.
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