ONE OF MY CLIENTS SOLD A COMMERCIAL PROPERTY FOR 5 CR, AND HIS COA COMES TO 4 CR, HIS CAPITAL GAIN IS 1 CR, NOW HE IS PLANNING TO INVEST 80LACS IN A RESI HOUSE, SO IS WHAT CAN BE THE EXEMPTION AMOUNT ? CAN I GO AS PER 54F
08 September 2011
Section 54F- Any asset other than residential house held for more than 36 months should not own more than one house on the date of transfer, he can invest in residential House (not houses). Net consideration is to be invested.
CAclubindia
