Regarding 54f exemption

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2014 Dear Sir,
I have sold residential plot (by Sale Deed) and purchased a flat (by Sale Agreement).
Can i take exemption u/s 54F ?
Sale agreement is valid for exemption or not? As there is no stamp duty on sale agreement. I made sale agreement on 100 rs. Stamp paper.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 February 2014 well you may very well be able to claim 54F exemption as in income tax even possession of property is sufficient to claim exemption. However, it may still be in violation of stamp duty provisions

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