Capital Gain exemption on Tenancy Rights
This query is : Resolved
CA Manisha More
(Querist)
13 June 2011
Can assessee claim exemption u/s 54F on capital gain on sale of Tenancy Rights? Is there available exemption under any other section if the assessee already has 2 flats?
Please reply.
Please reply.
CA PARAS BAFNA
(Expert)
13 June 2011
Tenancy right is treated as a capital asset
and the capital gain arising from transfer
of tenancy right can be invested in the bonds of NHAI, REC and NABARD Capital Gain Bonds U/s 54EC. The investment has to be made within 6 months from the date of transfer of original asset. Max Upto Rs 50.00
lac exemption can be claimed in a financial year.
and the capital gain arising from transfer
of tenancy right can be invested in the bonds of NHAI, REC and NABARD Capital Gain Bonds U/s 54EC. The investment has to be made within 6 months from the date of transfer of original asset. Max Upto Rs 50.00
lac exemption can be claimed in a financial year.
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CA Manisha More
(Querist)
14 June 2011
Thank you sir
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