Capital gain u/s 54f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2015
I have sold one land @ Rs 30 lacs and I want to take exemption u/s 54F as I had bought one bunglow @ Rs. 18 lacs. But my query is :
Land sold for Rs 30 lacs on 06.06.2013
Bunglow purchased from builder but he has made two deeds one for sale deed of land of Rs 3 lacs on 15.06.2010 and construction agreement on 10.06.2010 for the period of 3 years and hence constructed completed on 30.06.2013 and I have made the payment of construction of Rs. 15 lacs on 30.06.2013 from the sale proceeds of my land of Rs 30 lacs.
But problem is exemption can be taken only if I had bought a res property one year before the transfer. Here I am having two deeds dated 15.06.2010 though I had paid Rs 15 lacs in 2013.
Can I eligible for exemption u/s 54 F ?
Land sold for Rs 30 lacs on 06.06.2013
Bunglow purchased from builder but he has made two deeds one for sale deed of land of Rs 3 lacs on 15.06.2010 and construction agreement on 10.06.2010 for the period of 3 years and hence constructed completed on 30.06.2013 and I have made the payment of construction of Rs. 15 lacs on 30.06.2013 from the sale proceeds of my land of Rs 30 lacs.
But problem is exemption can be taken only if I had bought a res property one year before the transfer. Here I am having two deeds dated 15.06.2010 though I had paid Rs 15 lacs in 2013.
Can I eligible for exemption u/s 54 F ?
17 December 2015
you are not Eligible to claim Exemption.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- E way bill for tractors
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Loan by Partnership Firm
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
