Section 54 - 1 Year Prior RHP
This query is : Resolved
Ankur Aggarwal
(Querist)
12 November 2024
Hi,
I had bought a RHP1 on 04/01/2024 (FY 23-24) for 50 lakhs. I have sold a RHP2 on 10/11/2024 (FY 24-25) and computed a capital gain of 45 lakhs.
1. Can I take exemption u/s 54 by showing the capital gain of 45 lakhs in RHP1?
2. Any particular details to be mentioned in ITR of FY 24-25?
Thank in Advance.
I had bought a RHP1 on 04/01/2024 (FY 23-24) for 50 lakhs. I have sold a RHP2 on 10/11/2024 (FY 24-25) and computed a capital gain of 45 lakhs.
1. Can I take exemption u/s 54 by showing the capital gain of 45 lakhs in RHP1?
2. Any particular details to be mentioned in ITR of FY 24-25?
Thank in Advance.
Dhirajlal Rambhia
(Expert)
12 November 2024
1. Yes, you can claim the exemption u/s. 54 IT act.
2. Relevant columns to be filled in ITR of AY 2025-26, Schedule CG, along with exemption claimed in column 54. Nothing can be declared in ITR of AY 2024-25.
2. Relevant columns to be filled in ITR of AY 2025-26, Schedule CG, along with exemption claimed in column 54. Nothing can be declared in ITR of AY 2024-25.
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