Capital Gain and invested in Shop or Office

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This discussion clarifies capital gains tax exemptions under Section 54D for individuals selling a residential house and reinvesting in a shop or office, questioning if these qualify as 'industrial undertakings'. It also addresses the eligibility for Section 54 benefits when investing sale proceeds into two separate under-construction residential properties, noting it's a once-in-a-lifetime exemption.

Rahul

Rahul (Querist)
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29 July 2023 Dear
Q.1 Sale of resident house and invested in shop/office.
Section 54D exemption can claim by assessee? in 54 D section mentioned Industrial Undertaking
So my question is can shop/office can cover under industrial undertaking?.

Q2. Assessee sold residential house, but invested in two seperate residential property under construction and make part payment in both properties.

is he eligible to take benefits of section 54 to invest in new residential house.