Capital gain exemptions

Originally posted by : Aman
	Q1 Yes u cn take exemption for al 3... Q2.. First utilize the exemption u/s 54b then set off the short term loss coz loss cn be c/f to next year but exemption cannot be....

thanx aman

can u please tell me in option 3 querry house property is taxable us 28 under PGBP

CAN ASSESSEE CLAIM BENEFIT US 54 though property sold is a residential house but not taxable u/s 22

i have seen in  book that exemption cannot be claimed in that case

Answer to Q1 -

Seciont 54B  clearly mentions exemption is allowed on capital gain from transfer of land used for agriculatural purpose and not residential house.

Section 54F states that exemption of capital gain from transfer of long term asset other than house property by purchasing a residential house

Originally posted by : Vandana Mulchandani
	Answer to Q1 - Seciont 54B  clearly mentions exemption is allowed on capital gain from transfer of land used for agriculatural purpose and not residential house. Section 54F states that exemption of capital gain from transfer of long term asset other than house property by purchasing a residential house

correct
but my querry is for sec 54 exemption for residential house property used u/s 28 not taxable u/s 22