Capital gain exemption under section 54f
This query is : Open
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?
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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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....
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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