Capital gain tax exemption under section 54f
This query is : Resolved
08 January 2019
Made agreement with a builder for purchase of flat in 2014 with an initial payment. 80% of purchase price was paid from own source. Its registration was completed in 28/03/2017 with full and final payment.
In 20/01/2017, I sold a land with long term capital gain. In order to avoid payment of capital gain tax from sale of land, can we claim exemption under section 54F as registration of new investment was made after sale of land even though payment of the flat was made from own source.
Request guidance on this.
In 20/01/2017, I sold a land with long term capital gain. In order to avoid payment of capital gain tax from sale of land, can we claim exemption under section 54F as registration of new investment was made after sale of land even though payment of the flat was made from own source.
Request guidance on this.
09 January 2019
Reinvestment from own source is eligible for 54F. Inference - CIT Vs. R. Srinivasan (2010) 45 DTR 208 (Mad).
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