combined exemption -54EC & 54F
This query is : Resolved
13 January 2011
1.Is it correct to claim exemption under 54EC & 54F (together)
(all conditions are satisfied)
If yes
while calculating exemption u/s. 54F LTCG shall be taken as whole amount or as reduced by 54EC exemption
2. whether 54f & 54EC is eligible on STCG arising due to sale of depreciable asset (long term)
(all conditions are satisfied)
If yes
while calculating exemption u/s. 54F LTCG shall be taken as whole amount or as reduced by 54EC exemption
2. whether 54f & 54EC is eligible on STCG arising due to sale of depreciable asset (long term)
13 January 2011
Yes one can claim exemption u/s 54EC and 54F together
Profit on sale of depreciable assets is always treated as short term irrespective of the holding period.Therefore 54f can not be claimed.
Profit on sale of depreciable assets is always treated as short term irrespective of the holding period.Therefore 54f can not be claimed.
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15 January 2011
1.Is it correct to claim exemption under 54EC & 54F (together)
(all conditions are satisfied)
If yes
while calculating exemption u/s. 54F LTCG shall be taken as whole amount or as reduced by 54EC exemption
2. whether 54f & 54EC is eligible on STCG arising due to sale of depreciable asset (long term)
(all conditions are satisfied)
If yes
while calculating exemption u/s. 54F LTCG shall be taken as whole amount or as reduced by 54EC exemption
2. whether 54f & 54EC is eligible on STCG arising due to sale of depreciable asset (long term)
16 January 2011
1. You have to claim both the deduction against the LTCG. First deduction u/s 54EC
and 54F against balance amount.
2. No deduction is not allowed against STCG.
and 54F against balance amount.
2. No deduction is not allowed against STCG.
17 January 2011
1.Is it correct to claim exemption under 54EC & 54F (together)
(all conditions are satisfied)
If yes
while calculating exemption u/s. 54F LTCG shall be taken as whole amount or as reduced by 54EC exemption
2. whether 54f & 54EC is eligible on STCG arising due to sale of depreciable asset (long term)
(all conditions are satisfied)
If yes
while calculating exemption u/s. 54F LTCG shall be taken as whole amount or as reduced by 54EC exemption
2. whether 54f & 54EC is eligible on STCG arising due to sale of depreciable asset (long term)
17 January 2011
54EC can be availed for STCG arising from transfer of LT depreciable asset
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