Capital gain exemption under section 54f

Save Share

This query is : Open

Jigar Shah (Querist)
Follow

14 June 2012 I have shares of one unlisted company. Can I get exemption under section 54F if I sell the shares in parts in three different financial years and construct a residential house.Can I take 54F exemption in all the three years in which I sold my shares and invested the gain in construction of new residential house property?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

14 June 2012 Yes you can avail the exemption. However, you have to ensure that the construction gets completed AFTER the date of LAST SALE transaction.

Message likes : 1 times

Jigar Shah

Jigar Shah (Querist)
Follow

15 June 2012 Thank you for the reply, but is there any case law to support the same? However your reply is what I would support and suggest my client....

Jigar Shah

Jigar Shah (Querist)
Follow

15 June 2012 Thank you for the reply, but is there any case law to support the same? However your reply is what I would support and suggest my client....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now