Mr.A has a flat in Mumbai plus some land in Urban area in Kerala.He wants to dispose of the land in Kerala and want to go for a second flat in Mumbai with the proceeds.
Whether the capital gain exempt u/s54/54F
Menu
Capital Gain
Replies (3)
Depends on nature of the urban land.
If it is a long term capital asset, section 54F can be claimed.
| Originally posted by : soura | ||
 |
the capital gain would be exempted in 54F |
 |
AGREE.
N AS SAID ABOVE IT MUST BE A LONG TERM CAPITAL ASSET.
Recent Topic
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
Related Topics
CAclubindia
