Deductions

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rahul

rahul (Querist)
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08 March 2012 can a person claim a deduction U/S 54B, 54F in Capital gain in same A.Y. Year,
plz reply>>>>>>>>>

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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09 March 2012 Yes an assessee can claim exemption u/s 54B and 54F & other sections such as 54, 54EC, etc in the same AY. All these sections are different from each other & not related to each other.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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09 March 2012 Rightly said by the expert.
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If you want to claim exemption of Rs. 6.00 Lac LTCG arising out of sale of a Agriculture Land, you may claim 4 lac in 54B and 2 lac in 54F. Total exemption can not exceed the amount of Capital Gain.
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