Deduction to save CAPITAL GAIN TAX

This query is : Resolved

Alpesh Patel (Querist)
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29 February 2024 I sold open plot of land in 1.40 crore. Indexed Cost of purchase is 0.24 crore. LTCG is Rs. 1.16 Crore. I want to save capital gain tax by following exemptions.
I have purchased Tax Saving Bonds (54EC) of Rs. 50 Lakhs and want to purchase new residential house value of Rs. 70 Lakhs (Sec 54F) . Thus total investment comes to Rs. 1.20 crore.

Queries
1. Can I claim both deduction u/s 54 F & 54 EC ????
2. If investment in bonds partly and investment in new residential house party is possible??

Please help.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 February 2024 1 yes.
2 yes possible but 54F require net consideration is to be invested.

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Alpesh Patel

Alpesh Patel (Querist)
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01 March 2024 Thank you very much for your prompt help.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 March 2024 You are welcome..
..

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