If an individual has a Capital gain of Rs. 10 Crs from sale of shares and he purcahse new property worth 10 Crores paying Rs. 2 Crores from self and balance Rs. 8 Crs from bank finance. Can he claim the exemption for Rs. 2 Crs. of full 10 Crs?
Menu
Capital gain
Replies (3)
one can claim full exemption of Rs. 10 cr.
because in the law, nowhere mention that same funds must be utilize for further investment.
Interesting interpretation of law.
To avail full exemption U/s 54 F one must have to invest whole same consideration and not long term capital gain. You can invest from borrowed funds
Recent Topics :
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
Related Topics :
CAclubindia
