Section 54

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Eswar Reddy S (Querist)
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20 December 2013 Hi, I have computed the capital gain on sale of residential house property . Transfer date is 06.02.2013 Capital gain Rs.50,43,200 On 07.06.2013 client made investment in new residential property of Rs .80,00,000 out of this investment 50% belongs to spouse . but for avoiding vat ,sale deed registered only for Rs .20,00,000 How much I can get deduction under section 54 .

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 December 2013 same as answered before. exemption upto the sale deed amount. you have saved taxes in form of VAT, stamp duty etc. So pay some on capital gains!!

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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21 December 2013 yes correct exemption =sale deed amount only.

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