Capital Gain Sec -54 Exemption appliacable on Sale of Land or Not
This query is : Resolved
Vipul Acharya
(Querist)
12 July 2021
Is exemption u/s 54 applicable on sale of land (owned for residential purpose), will invest the money within one year in new residential property
CMA Poornima Madhava
(Expert)
12 July 2021
Section 54 is not applicable in case of sale of land. You may opt for exemption u/s 54F in this case.
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