Capital gain exemption

Hello,

My query about capital gain exemption.

1. Purchase a shop in 2001-02 and the shop sale in 02-06-2011.

2. purchase a recidential flat on 20-10-2011. 

so, can i have taken exemption u/s. 54 for recidential flat agnst capital gain of selling a shop or not.?   

 

Replies (6)

no you can not take exemption in u/s 54. but you are eligible to claim exemption u/s 54F

No, you can not enjoy exemption u/s 54, Sec 54 is for sale of residential & purchase of residential.

dear u can get exemption u/s 54F

with the help of this formula

capital gain * investment in residential propoerty / net consideration

You can get exemption u/s 54F

no you can not get exemption u/s 54 but you can  get exempation u/s 54f

suppose the shop existed in the home itself. ie. to say , it was a residential property used as a shop then what?

 

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