54F Plot query

If Mr. x has Ltcg of 7lakh and sale proceeds of 15lakh,

He invests all the sale proceeds in a residential PLOT

1) Is he eligible for 54F?
2) If he is unable to construct a house due to lack of funds, then what are the consequences?


Thankyou
Replies (2)
Quick Summary
This discussion clarifies Section 54F of the Income Tax Act regarding capital gains from selling assets and investing in a plot. It addresses whether investing sale proceeds from an asset into a plot qualifies for exemption, especially when the plot is not yet constructed into a house. The consequences of not completing construction due to insufficient funds are also explored, highlighting potential tax liabilities on long-term capital gains.

1. No, unless HP constructed.

2. Tax liability over LTCG.

Exemption available.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
18 August 2026
Audit Assistant - Remote / Work From Home

CA ANOOP P K & ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details