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Capital Gain
One of My client sold out Rural Land(Non Agriculture) and purchased Commercial Shop , So is there Exemption available for the same??
Replies (5)
No
No exemption is available on purchase of Commercial property.
Sec 54F exemption can be claimed on sale of any Long term capital asset (LTCA) except Residential house and purchase of New Residential House
Sec 54F exemption can be claimed on sale of any Long term capital asset (LTCA) except Residential house and purchase of New Residential House
but for this Exemption assessment should invest in Residential property Na?
Yes, the assessee should invest in Residential house
But he purchased for commercial so he is ineligible for exemption
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