Capital Gains Tax Exemption Section 54f
This query is : Resolved
20 July 2022
A person has Rs 4 crore capital gains from trading of shares. To avoid CG tax, he wish to purchase residential flat. He will make Rs 80 lakhs as down payment and rest Rs 3.2 crore on getting possession after 2 years. Whether he needs to deposit Rs 3.2 crore in CG deposit account to claim exemption or he can park the fund as per his own will?
20 July 2022
He needs to deposit Rs 3.2 crore in CG deposit account to claim exemption before the due date of filling ITR.
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