Capital gains under sec 54f
This query is : Resolved
09 October 2011
Can the cost of stamp duty/ registration charges be included in the cost of new house purchased (from the part of sales proceeds of sold land)for claiming LTCG exemption under sec 54 F. HOW is LTCG exemption under sec 54F calculated in such case of part utilisation of sales proceeds of land. Please reply URGENTLY.
CA MANOJ GUPTA
(Expert)
09 October 2011
yees it will be inckluded
ur second question is not clear
CA MANOJ GUPTA
JODHPUR
09828510543
ur second question is not clear
CA MANOJ GUPTA
JODHPUR
09828510543
09 October 2011
Please give the calculation formula for my question for calculating the LTCG exemption available on utilising a part of the land sale proceeds for purchase of new house under sec 54F. Thanks.
10 October 2011
In such a situation the exempted capital gains under section 54 F shall be worked out as follows:-
Capital gains multiplied with cost of the new asset and divided by net sale consideration.
Capital gains multiplied with cost of the new asset and divided by net sale consideration.
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