Capital Gain Exemption income tax
This query is : Resolved
Quick Summary
27 February 2024
A property (House property) that is owned by a proprietor firm. The proprietor wants to sell it. now the question is how can capital exemption be claimed by the proprietor.
27 February 2024
Take indexation benefits.
Buy another house under section 54 and claim exemption.
Buy another house under section 54 and claim exemption.
28 February 2024
Will the property be purchased under the name of the proprietorship firm or the proprietor individually? If the proprietor acquires the property in their name, they will be eligible for exemption under section 54.
28 February 2024
Property can be purchased only in the name of proprietor. Proprietorship firm has no separate legal status.
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