Capital gains
This query is : Resolved
MAKARAND DAMLE
(Querist)
02 September 2018
Whether capital gains on sale of tenancy rights in commercial property office are taxable as capital Gains.
Also if taxable whether short term or long term will depend on period of holding and whether these capital gains are exempt u/s 54 if these proceeds are invested in new commercial property ?
Also if taxable whether short term or long term will depend on period of holding and whether these capital gains are exempt u/s 54 if these proceeds are invested in new commercial property ?
CA R SEETHARAMAN
(Expert)
02 September 2018
Yes taxable as long term capital gains based on period of holding. 54 exemption not available for purchase of commercial property
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