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54F exemption - Two years

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Indira

1401 Points Posted on 09 September 2023

I have sold some unlisted shares resulting in capital gain of INR 1.7 crores in June 2022 and have reinvested the proceeds in a residential property amounting to INR 4 crores. I had claimed the exemption under section 54F for the AY 23-24. Now for AY 24-25 can i take the exemption under 54F on the same property as the total amount of investment was not exhausted?

Thanks

Replies (2)

Quick Summary

A taxpayer sold unlisted shares in June 2022, realising a capital gain and reinvesting the proceeds into a residential property. They claimed Section 54F exemption for AY 23-24. The question is whether they can claim the exemption again for AY 24-25 on the same property, as the full investment amount wasn't exhausted. The consensus is that this is not possible; the carry-forward option for the exemption on the same investment is not available.