Capital gain exemption
This query is : Resolved
VINITHA RAJESH
(Querist)
19 September 2014
An individual has obtained long term capital gain out of sale of equity shares in a private limited company. What are the investment options available to him for obtaining the capital gain exemption.
Please advice.
Please advice.
Nikhil Kaushik
(Expert)
20 September 2014
invest as per various provisions such as 54EC, 54F etc
VINITHA RAJESH
(Querist)
21 September 2014
Thank you.
Investing in specified bonds are clear as per Section 54 EC.
But as per information received from some sources, there were doubts whether the LTCG from sale of shares can be invested in house property. In the section, it is also mentioned below at the end as
"Explanation.—39[Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]]
Please clarify
Investing in specified bonds are clear as per Section 54 EC.
But as per information received from some sources, there were doubts whether the LTCG from sale of shares can be invested in house property. In the section, it is also mentioned below at the end as
"Explanation.—39[Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]]
Please clarify
Nikhil Kaushik
(Expert)
21 September 2014
havent heard of any such restriction. please refer https://taxguru.in/income-tax/tax-benefit-under-section-54ec-on-long-term-capital-gain.html
VINITHA RAJESH
(Querist)
21 September 2014
54 EC is fine.
I meant whether any restriction under Section 54F. Please foward link if any with regard to this section.
I meant whether any restriction under Section 54F. Please foward link if any with regard to this section.
Nikhil Kaushik
(Expert)
21 September 2014
i am sorry i misread. Even for 54F there is no such restriction.
VINITHA RAJESH
(Querist)
23 September 2014
Thanks a lot.
Nikhil Kaushik
(Expert)
24 September 2014
you are welcome Vinitha..
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