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Capital Gain exemption under section 54F

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shardul bhurke

article

34 Points Posted on 28 July 2023

can we claim LTCG exemption under section 54F on transfer of shares, bonds to purchase new house. Assessee does not have any other property in his name.

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Quick Summary

This discussion explores claiming Capital Gains tax exemption under Section 54F when transferring assets like shares or bonds to purchase a new residential property. The exemption is available if the assessee doesn't own another property and the tenure of the investment is considered. It specifically applies to assets other than a residential house.

Nikita Agarwal

Semi Qualified CA

3208 Points Posted on 28 July 2023

Yes the exemption under section 54F is available only if the assessee transfers any other asset other than residential house to purchase a new residential house.