Capital gains exemption u/s.54f
This query is : Resolved
Vikas Bardiya
(Querist)
01 July 2015
Hello Sir / Mam,
Whether can we claim exemption u/s. 54F for the same property in 2 consecutive AY's?
In FY 2013 - 14, One has sold a Long Term Capital Asset (Other than a Res. HP) and on the said date he does not own any Res. HP, but has booked a flat 2 years back which is under construction and is making payments therefrom. Now if he makes payments for the Property which is under Construction, whether he can claim deduction u/s. 54F for AY 14-15 for the amount paid towards property?
In FY 2014 - 15, he has again sold a Long Term Capital Asset(Other than Res. HP) and have made payments to the property which is under construction. Can he again claim exemption u/s. 54F for the same property again in AY 15-16?
Thanks in Advance.
Whether can we claim exemption u/s. 54F for the same property in 2 consecutive AY's?
In FY 2013 - 14, One has sold a Long Term Capital Asset (Other than a Res. HP) and on the said date he does not own any Res. HP, but has booked a flat 2 years back which is under construction and is making payments therefrom. Now if he makes payments for the Property which is under Construction, whether he can claim deduction u/s. 54F for AY 14-15 for the amount paid towards property?
In FY 2014 - 15, he has again sold a Long Term Capital Asset(Other than Res. HP) and have made payments to the property which is under construction. Can he again claim exemption u/s. 54F for the same property again in AY 15-16?
Thanks in Advance.
CA. Sunil Gokhale
(Expert)
01 July 2015
Yes, he can claim exemption u/s 54F.
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