Exemption u/s 54f if two plots sold and one flat purchased
This query is : Resolved
07 January 2013
Please tell me whether there will be exemption u/s 54F if I sell two plots and with that consideration I purchase a residential flat.
If yes, how to bifurcate the cost of new residential house in the consideration of different plots.
If yes, how to bifurcate the cost of new residential house in the consideration of different plots.
CA PARAS BAFNA
(Expert)
07 January 2013
Please read the instruction for filling up the Capital Gains Schedule -
(c) Schedule-CG,-
If more than one short-term capital asset has been transferred, make the combined computation for all the assets. Similarly, make the combined computation for all the assets if more than one long-term capital asset has been transferred.
.
This will make your task easier, as you will be able to claim 54F benefit against cumulative sales consideration.
.
(c) Schedule-CG,-
If more than one short-term capital asset has been transferred, make the combined computation for all the assets. Similarly, make the combined computation for all the assets if more than one long-term capital asset has been transferred.
.
This will make your task easier, as you will be able to claim 54F benefit against cumulative sales consideration.
.
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