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U/s 54

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(Querist)
23 May 2014 kindly tell me what benefit we get U/S 54 & 54F
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Ankit

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Ankit (Expert)
23 May 2014 Dear Ami,

incase of sections 54 and 54F, the capital gains is exempt in certain cases.

Sec 54 allows deduction of gains on transfer of residential house property
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Deepti Asawa

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Deepti Asawa (Expert)
23 May 2014 Sec 54 allows deduction from the tax on long term capital gains earned from residential property while Sec 54F covers assets other than this.
In both Sec 54 & Sec 54F, the exempted property cannot be sold within three years of acquisition else the taxability on gains will arise with respective section clauses. Both these sections are available to property investors for claiming long term capital gains tax exemptions only.
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