Invt of LTCG on property in another property and Cap Bonds

This query is : Resolved 
Quick Summary
This discussion clarifies how to claim Long Term Capital Gains (LTCG) tax exemption under Section 54 of the Income Tax Act. If you've made capital gains from selling property, you can invest a portion in purchasing another property and the remaining amount in specified Capital Bonds to avail full exemption.

Profile Image

Profile Image

(Querist)
31 January 2024 Re: Cap Gains. My friend wants to know if he gets net cap gains of Rs30 lakhs on sale of immovable property, can he invest Rs20 lakhs in new prop purchase and the remaining Rs10 lakhs in Cap Bonds to claim full exemption under LTCG by following the guidelines as per Sec54?
Profile Image

CA. Bhavik P. Chudasama

Profile Image

CA. Bhavik P. Chudasama (Expert)
31 January 2024 Yes Definetly he can get exemptions under 54EC and 54
Profile Image

k s prakash

Profile Image

k s prakash (Querist)
31 January 2024 Thank you CA Bhavik Sir for the positive reply.
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


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member B L BhojwaniB L BhojwaniPro Member kopparapu bheemaraokopparapu bheemaraoPro Member THUSHAR MURALI KRISHNATHUSHAR MURALI KRISHNAPro Member RAJENDRA PARAKHIRAJENDRA PARAKHIPro Member Krishna Kumar AKrishna Kumar A
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category