Capital gain u/s 54 f

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saurabh (Querist)
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23 August 2016 Dear Experts,

I have sol a commercial piece of building on nov 2015 with a capital gain of Rss 75 lac. In August 2016 I am receiving a residential house property under family setllement with a stmap value of Rs 85 lacs. I am not paying any consideration for the said property.

Will I be able to claim benefit u/s 54F for the property received under family settlement.

Thanks

Amol S Joglekar

Amol S Joglekar (Expert)
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23 August 2016 the words used in the section are purchased/constructed......
the family settlement = purchase/construct..... you need to take the call as per the words used in the said family settlement... (Prima facie, family settlement does not amount to purchase/construct)

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