banner_ad

Direct tax-capital gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 March 2014 our client has generated LTCG from sale of plot, now he wants to invest the proceeds in a residential property and claim exemption u/s 54f.
he has two properties as,
1.one in which he is residing
2.the other for which he has given advance under construction linked scheme.
he wants to know whether this advance be treated as having other residential property and consequently will he be disallowed exemption u/s 54f?
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
12 March 2014 54F aims at ONE year before or TWO years after the date of transfer......for purchase of NEW ASSET. If the advance satisfies this condition of ONE year.....54F is available accordingly.
Profile Image

swati sharma

Profile Image

swati sharma (Querist)
13 March 2014 Not received accurate reply,need more suggestions..pls
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details