Capital gain on sale of shares /buying commercial property.
This query is : Resolved
Gopal Khetan
(Querist)
04 November 2014
Dear Experts,
Please advise if I sell my holding in a pvt ltd co, and use the same proceeds,includin g the capital gains to buy office and warehouse for new business, can the capital gains be exempted ?
Please elaborate with section details.
Thanks !
Please advise if I sell my holding in a pvt ltd co, and use the same proceeds,includin g the capital gains to buy office and warehouse for new business, can the capital gains be exempted ?
Please elaborate with section details.
Thanks !
22 November 2014
Section 54F provides exemption from long term capital gain tax if the sale proceeds are invested in a RESIDENTIAL house property.
Exemption is NOT available if amount is invested in a commercial property.
Exemption is NOT available if amount is invested in a commercial property.
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