Exemption under 54F

This query is : Resolved 

Quick Summary
This discussion clarifies whether individuals can claim an exemption under Section 54F of the Income Tax Act when they have made long-term capital gains (LTCG) under Section 112A from selling shares. The consensus is that LTCG from shares, when reinvested in a house property within the specified timeframe, are indeed eligible for the Section 54F exemption. Therefore, individuals can claim this relief provided they meet all other conditions of Section 54F.

24 July 2023 Respected Sir/ Madam,

If an Individual has made long term capital gains u/s.112A in a year and has purchased a house property in the same year out of those sale proceeds from shares . Is he eligible to claim exemption u/s. 54F ????

Is capital gain u/s. 112A eligible for exemption u/s. 54F???

24 July 2023 Yes, eligible.

13 September 2024 Good luck.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details