LTCG and deduction u/s 54

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This discussion clarifies the calculation of the holding period for Long Term Capital Gains (LTCG) on inherited property. The consensus is that the holding period for tax purposes starts from the year the original owner purchased the asset, not from the date of inheritance. Furthermore, it's confirmed that a deduction under Section 54F of the Income Tax Act is generally available in such cases.

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(Querist)
25 March 2025 Hi sir

I have inherit a land on 01.08.2023 which was purchased in the year 2001 , sold the land on 15.12.2024. should i calculate holding period from 2001 or it is from 2023? and can i get deduction u/s 54 against this land
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
25 March 2025 1. From 2001
2 Yes u/s. 54F IT act.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
30 September 2025 Good luck....
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