Capital gain u/s 54f


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 May 2017 One of our clients sold shares of his private company and is investing the amount for construction of residential house property. He already has ONE house in the city in his name.
Will he get claim u/s 54F and if yes, will he also get it for the amount invested in land or only construction cost.

09 May 2017 since your client has one house, s/he can claim exemption u/s 54F.
Cost of land + cost of construction qualifies for exemption

09 May 2017 If the Shares are long term then yes he will get Exemption US 54.

Avatar

Expert : Anonymous

Profile Image
Expert : Anonymous (Expert)
09 May 2017 You can claim exemption only in 54F. Both land & construction cost allowed as deduction in proprtion of cost to net sale consideration. Also exemption is available only for Long term capital gain i.e. sale shares after holding of 1 year.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details