One of my clients is having income as only from capital gains. Income is below taxable limit. Whether it is taxable? Whether investments u/s. 54 is to be done to claim exemption?
13 November 2021
If you are in the process of buying / constructing other residential house, then you may claim deduction u/s 54 in respect of Long-Term Capital Gain against sale of residential house. If the gain has arisen from sale of any capital asset other than residential house, then you may claim deduction u/s 54F or invest the capital gain in bonds u/s 54EC.
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