Longer term capital gain

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This discussion concerns capital gains tax following the sale of a house for £1 crore. The individual purchased an apartment for £65 lakhs in March 2023, before selling the house in October 2023. The query seeks to determine the applicability of Section 54F for claiming capital gains tax relief on the profit made from the house sale, using the apartment purchase as a qualifying investment.

omnath

omnath (Querist)

06 November 2023 sir
MR A SOLD ONE HOUSE AS ON 26/10/2023. RS.1.00CR BUT HE AGREEMENT ON APARTMENT PROPERTY AS ON. 30/10/22. COST OF 65 LASKS. THE GAIN IS APPLICABLE U/F 54F (THE GAINS IS 60 LAKS.)

THANKS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

06 November 2023 The query is not clear.

omnath

omnath (Querist)

07 November 2023 SIR
MR A HAS PURCHAES OF APREMTNT HOUSE RS.65 LAKS AS ON MAR 2023. AND HE SOLD ONE HOUSE RS.1.00 CR.AS ON 31.10.23. . HE CLAIM OF U/S 54F APPLICABLE CAPTIAL GAIN AMOUNT IN THE APREMENT HOUSE
TAHNKS

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