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54 and 54f

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Naman Mamania

22 Points Posted on 13 February 2023

can I use both sec 54f and 54 capital gains exemption if I sell a house,gold,shares all 3 and reinvest the proceeds to buy a single new house.

can both 54 and 54f be used towards buying a property
is it either property for property or gold,shares,MFs for property

and what if I wish to buy 2 properties let's say of 1Cr
by selling a single residential property of 1Cr

Replies (3)

Quick Summary

This discussion clarifies the use of Capital Gains Tax Sections 54 and 54F. Section 54 applies to reinvesting proceeds from selling a residential property into another residential property. Section 54F is for reinvesting proceeds from selling assets other than residential property (like gold or shares) into a residential property. While they are distinct, both sections can potentially be used independently for a single transaction, depending on the specific assets sold and reinvested. The exact transaction details are crucial for determining eligibility.

prasad Nilugal

GST Practitioner & Accounts

15136 Points Posted on 13 February 2023

Section 54 and section 54F are two different sections Can not use both, . Section 54 is for residential property to residential property, section 54F other than residential property to residential property also there are different requirement for both the sections .