LTCG on shares & purchase of new house

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Suraj (Querist)
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30 June 2024 Dear Sir / Madam,
My query is as follows:
Mr A sold equity shares of listed companies and earned Long term capital gain of Rs. 275,000/- (Sales value Rs. 15 lakhs). He purchased a residential house property in the same year for Rs 50 lakhs.

Instead of claiming exemption of long term capital gain upto Rs. 1 lakh, Can he claim exemption of entire long term capital gain of Rs. 275,000/- by showing u/s 54F the investment of sales proceeds of equity shares of Rs. 15 lakhs in the purchase of new house property?

Kindly guide.
Thanking You,
Suraj

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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30 June 2024 Yes eligible, as the investment in HP is more than 15 lakhs.

Message likes : 1 times

Suraj

Suraj (Querist)
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01 July 2024 Thank You Rambhia sir......

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 July 2024 You are welcome.

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