Capital gains
This query is : Resolved
PRAMOD KUMAR
(Querist)
13 July 2014
Dear Experts,
Mr. X owns a residential and a commercial property.
Now if he sells his commercial property and invests entire proceeds in purchasing a constructed residential house, will the capital gains be exempt?
Plz note Mr. X already owns a residential property and uses it for self.
Thanks
Pramod
Mr. X owns a residential and a commercial property.
Now if he sells his commercial property and invests entire proceeds in purchasing a constructed residential house, will the capital gains be exempt?
Plz note Mr. X already owns a residential property and uses it for self.
Thanks
Pramod
Nikhil Kaushik
(Expert)
14 July 2014
yes. you will get exemption under section 54f.
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