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SECTION 54-F (*)

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(Querist)
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.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
08 November 2021 54 F exemption applicable in this case. Entire net consideration to be invested in the new house.
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TARIQUE RIZVI

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TARIQUE RIZVI (Querist)
08 November 2021 Thanks with kindest regards sir
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
09 November 2021 You are welcome.........
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