Examption of 54 for sale of plot
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 October 2016
assessee sale of plot at 31.08.2014 land and builsding used for business - and purchases of new plot 30.09.2014 for use of self business purposes and construcation of 2 rooms only - Assessing officer say claim of section 54 of income tax of capital gain not applicable and liable for tax
how to aviod the capital gain tax and give me a case law for this problem
how to aviod the capital gain tax and give me a case law for this problem
CA R SEETHARAMAN
(Expert)
25 October 2016
Section 54 exemption not available in view of sale of business property and buying another property used for business.
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