SECTION 54-F (*)
This query is : Resolved
Quick Summary
08 November 2021
Respected Sir,
How the section 54-F is applicable & as in which case. One of my client is holding already a residential premises and a shop in his name. He has sold the shop and by the earning of sale of shop he has purchased an additional residential premises. Finally he is now holding two residential premises at a time. I would like to know whether sale of shop will attract capital gain tax @ 20% + 4% Cess. Please guide me and oblige.
How the section 54-F is applicable & as in which case. One of my client is holding already a residential premises and a shop in his name. He has sold the shop and by the earning of sale of shop he has purchased an additional residential premises. Finally he is now holding two residential premises at a time. I would like to know whether sale of shop will attract capital gain tax @ 20% + 4% Cess. Please guide me and oblige.
08 November 2021
54 F exemption applicable in this case. Entire net consideration to be invested in the new house.
08 November 2021
Thanks with kindest regards sir
09 November 2021
You are welcome.........
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- FTS Taxable under 115A
- Experts need help
- EPF FULL & FINAL RULES IN 2026
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Condonation . E-Verification of last year return .
- Rental income gst and it purpose
- Management System (IMS)
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
