Capital gains-whether taxable

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Sonnal Khandaray (Querist)
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12 November 2021 Hi All

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?

Thanks in advance.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 November 2021 NO. It will not be taxable.
Investment u/s. 54 will not be necessary, if not taxable; better file return.

Sonnal Khandaray

Sonnal Khandaray (Querist)
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12 November 2021 Suppose in the same case, if Rs. 50000 is taxable. whether it is necessary to make investment u/s.54?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 November 2021 NO.
Better to pay 20% tax on that 50K, rather than investing in any house property.

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PARAS CHHAJED

PARAS CHHAJED (Expert)
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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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