long term capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 November 2009 An individual invested in idustrial plot booking 5 year ago ,now he sells it & purchase another indutrial plot . can he claim the exemption under the head of 'capital gains' chapter and under which section?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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24 November 2009 Exemption available only on purchase of residential house property. Hence no exemption available

Jagdish Narayan Sawant

Jagdish Narayan Sawant (Expert)
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24 November 2009 exemption will not be available in the case mentioned by you,
but if you invest proceeds from the sale of long term capital assets withing 6 months after the date of transfer of original assets in the long term specified assets
the u will get exemption under section 54EC

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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24 November 2009 agree

Querist : Anonymous

Querist : Anonymous (Querist)

24 November 2009 very thankful to all of u to give me reply

CA Balram Sharma

CA Balram Sharma (Expert)
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19 December 2009 u will get exemption under section 54EC

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