banner_ad

Section 54 of income tax act

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 March 2016 Exemption can be claimed from Section 54, to the extend of Capital Gain or for Whole Property Sold? Kindly guide me with the Section in detail.
Profile Image

Jaymin Sabhaya

Profile Image

Jaymin Sabhaya (Expert)
19 March 2016 Dear Sir,
The amount of exemption under section 54 of the Income tax Act, 1961 will be lower of the following amount ---
1. The Amount of Capital Gain arising on transfer of the residential property or
2. The Amount Invested in purchasing new residential property.
therefore, in any case exemption under section 54 can not exceed the amount of capital gain.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
19 March 2016 CAPITAL GAIN of the property sold should be reinvested.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


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
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details