Section 54f
This query is : Resolved
26 March 2014
Hai experts.....
this is Srinivas ,i have a small doubt regarding capital gain exemption under section 54F.
i.e If Assessee who have sold commercial house property for 2 crores, Has purchase residential house property of value 1.2 crores in the name of his Son,
Is he eligible to claim any exemption Under section 54F
this is Srinivas ,i have a small doubt regarding capital gain exemption under section 54F.
i.e If Assessee who have sold commercial house property for 2 crores, Has purchase residential house property of value 1.2 crores in the name of his Son,
Is he eligible to claim any exemption Under section 54F
26 March 2014
yes proportionate exemption should be available. the proportion is computed as capital gains *amount reinvested/sale consideration
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21 April 2014
you can received exemption u/.s 54F
according to u/s 54F all sale proceeds will be invested in house property if you are not invested total sales proceeds then
capital gain from tfr of property/ sales proceeds X value of property purchase= amount will exempt form capital gain
on balance amount you have to pay capital gain tax .
according to u/s 54F all sale proceeds will be invested in house property if you are not invested total sales proceeds then
capital gain from tfr of property/ sales proceeds X value of property purchase= amount will exempt form capital gain
on balance amount you have to pay capital gain tax .
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