Applicability of section 54/54f

Tax queries 789 views 2 replies

Mr. X has a residentail house. He dismantles (break down) his house and sells it as a plot. My Queries are:

  1. Are Long term capital gains from the sale eligible for exemption u/s 54 or u/s 54F.
  2. Can Mr X invest the capital gains u/s 54EC in infra bonds to save LTCG.
Replies (2)

Yes, he would be eligible to claim Exemption from Long Term Capital Gains Tax under Section 54

no he can only avil sec 54 ec as for sec 54 income form house propety is ther and as only plot sold sec 54 cant avilable


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