Exemption u/s 54g
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2015
One of my Client has purchased a Plot From DSIDC in Delhi for Rs 15 Lacs in Industrial Area in F.Y. 2007-2008, Now He Want to Sale The Same in Current Year For Whole Consideration of Rs 150 Lacs ,He want to Invest the Consideration in Construction of Residential Building
My Query is
Whether He will entitled for Exemption u/s 54 G or Not?
My Query is
Whether He will entitled for Exemption u/s 54 G or Not?
08 October 2015
I think 54G will not be applicable. Section 54F may be applicable but you need to see if all the conditions are satisfied.
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