Easy Office

Deduction to save CAPITAL GAIN TAX

This query is : Resolved 

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.

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.

29 February 2024 1 yes.
2 yes possible but 54F require net consideration is to be invested.

01 March 2024 Thank you very much for your prompt help.

01 March 2024 You are welcome..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link

Similar Resolved Queries


Unanswered Queries