banner_ad

Sec 54 capital gains benefit

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 April 2012 If a person owns many residential properties and sells one residential property, can he reinvest in another residential property adequately within the stipulated period and claim the tax benefit ?
Profile Image

CA.rajni kalsariya

Profile Image

CA.rajni kalsariya (Expert)
12 April 2012 yes person can invest in another res.property and claim tax benifit.
Profile Image

Mihir Doshi

Profile Image

Mihir Doshi (Expert)
12 April 2012 Section 54 will be applicable here to get the benefit of Capital Gain.
Profile Image

CA Kishore Tallam

Profile Image

CA Kishore Tallam (Expert)
12 April 2012 Yes, subjected to one condition that the residential property which is sold by that individual shall be a long term capital asset. As per Sec 54, if a LT house property is transferred and the capital gains are invested for purchase / construction of a residential property within specified time, then such CGs are exempt from tax.
Profile Image

Murtaza I Bhagat

Profile Image

Murtaza I Bhagat (Expert)
12 April 2012 yes, agreed with experts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details