Capital gains
This query is : Resolved
24 May 2017
The assessee is an NRI. He sold residential Land for Rs 97,50,000 in FY 16-17. There after he purchased capital gain bonds U/s 54Ec for Rs 50,00,000 & spent the remaining amount in construction of his house.
Will he Get the Benifit U/s 54 or 54F ?
Will he Get the Benifit U/s 54 or 54F ?
Nikhil Kaushik
(Expert)
24 May 2017
under 54F as the asset disposed off is not a residential house.
24 May 2017
Can he claim both i.e Partially 54Ec for 0 Lacs & Remaining in construction of House
Nikhil Kaushik
(Expert)
24 May 2017
both sections are independent of each other. so yes, he can claim both exemptions. But what you mean by 0 lacs?
Nikhil Kaushik
(Expert)
24 May 2017
you are most welcome :)
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