Capital gains exemption section 54f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 July 2013
SALE OF PVT LTD EQUITY RESULTS GETS AMT OF 19 LAKHS, INDEXATION COST IS 2.3 LAKHS . NEW RESIDENTIAL UNDERCONTRUCTION FLAT IS BOOKED BY PAYING FULL FLAT PRICE + SERVICETAX +VAT + STAMP DUTY + REGISTRATION CHARGES IN TOTAL OF 16.75 LAKHS . WILL PURCHASE OF FLAT COST OF AGUISTION TO COMPUTE CAPITAL GAIN CAN BE CONSIDERED FULL 16.75 LAKHS ,AND LTCG IS NOT APLICABLE . PLEASE CLARIFY
14 July 2013
To get full exemption from capital gains tax , under section 54F, you have to invest net sale consideration (ie., 19 lacks minus expenses incurred exclusively in connection with the share transfer).
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