Capital Gain on unlisted shares and tax planning via 54F

409 views 1 replies

Assesse have got LTCG of 1cr from unlisted shares.

I understand 54EC is available now only from sale of Land / buidling or both. So 54EC is ruled out..

Now he can save tax only via 54F. Invest total net receipts in purchase of new home (within 2 years) or construction within 3 years.

Query?

1) For construction, can he construct home by demolising exisiting one floor home owned by his father ? 

2a) is it ok if his father gift him home and he construct home with full proceeds?

2b) or he should get conveyance deed transfered in his name and then do construction?

3) Home will be constructing will have 4 floors . He plan to sell after 3 years from construction completion date. is it ok?

4) Will 4 floors be considered one home or 4 different units?

Replies (1)
First transfer of existing home in your name. Each floor will be seperate unit. Hope per floor , it's one flat unit only.
The benefit under 54F will be for upto 2 units only. (provided he doesn't have any more residential units.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details