Capital gain exemption under section 54f

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Jigar Shah (Querist)
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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)
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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.

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Jigar Shah

Jigar Shah (Querist)
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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)
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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....

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