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)
Sunil Kr. Sanganeria
(Expert)
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.
Message likes :
1 times
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- MSME disclosure and disallowance
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
