Capital gains
This query is : Resolved
19 November 2019
Mr. A has sold a residential plot for RS. 75.00 lakhs on 10/4/2016.
He don't have any residential house as on that date.
He wants to claim exemption u/s. 54F and so purchased another residential Site for RS. 80.00 lakhs on 15th May,2016 itself. He has constructed house on the above site before March,2019 with his own funds.
He has not deposited any amount in Capital gains accounts scheme.
Is the claim of 54F is correct?
Is there any case law?
He don't have any residential house as on that date.
He wants to claim exemption u/s. 54F and so purchased another residential Site for RS. 80.00 lakhs on 15th May,2016 itself. He has constructed house on the above site before March,2019 with his own funds.
He has not deposited any amount in Capital gains accounts scheme.
Is the claim of 54F is correct?
Is there any case law?
20 November 2019
Yes claim of 54F is right.
22 November 2019
the section speaks itself.
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
- Reopen of assessment proceeding
- Is any professional CA is here please reply
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Gift Received from nonblood relative
- EPF FULL & FINAL RULES IN 2026
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Section 50-fixed asset-->building ceases to exist
- Fixe term employment
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
