Capital gain benefit u/s. 54 f

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rakesh sharma (Querist)
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20 February 2016 I had purchased two urban agri. land on Dec 2006 & Feb 2007. Both has been sold respectively in Dec 2014 & Feb 2015 respectively. The whole sale consideration of both the lands are utilised for purchase of one Resi. House Property. Can benefit u/s. 54 F be availed for sale consideration of both the urban agri. land or one urban agri. land only. Kindly guideas the I T Softwares are allowing benefit for one urban agri. land only.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 February 2016 The sale consideration of both the land can be used to buy a residential property u/s 54F. If the form is not allowing two combine the consideration.

Amol S Joglekar

Amol S Joglekar (Expert)
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20 February 2016 54F can be availed against the capital gain, if any, from both the properties.

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