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Capital Gain on Compulsory Acquisition of House Property
Capital Gains on Compulsory Acquisition of House Property by Government, whether any exemption is available in this case other than Sect. 54 exemptions [House property is not a part of industrial undertaking, therefore Sect. 54 D is not applicable]
Replies (5)
Charging Section[Sec.28]
- Profits and gains of any profession/profession
- Any compensation received related business
- Income received from members of similar profession
- Any benefit or perquisites from business /profession
- Export incentives from government
Mr.Shashin
Section 54EC...
54EC where maximum limit is Rs. 5000000/-
You can try spreading of Interest paid, if, it is for more than a year. No exemption other than SEc 54 shall be available.
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