Menu
54 exemption for perpetual lease agreements
i had sold my house property for 35 lacs and took a lease of another property for 40 years by paying 40 lacs at the time of agreement itself and so no further payment is required, the lease deed is silent regarding an sale or repurchase options, can I claim 54 exemption for the gain.
Replies (5)
Quick Summary
What is the lease period?
40 years
Yes, you can claim the exemption.
In such case, What value should be considered for cost of new asset for calculating exemption u/s 54 or 54F?
As the total payment to be made in your case is 40 lakhs, so that can be considered as cost of investment .
Recent Topics :
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
Related Topics :
CAclubindia
