Capital gain -sec 54F

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50 Points Posted on 20 September 2020
whether a vacant non agricultural plot of Land is a capital asset eligible for exemption u/s 54F at the time of sale
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On 20 September 2020 at 23:27 Report
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This discussion clarifies whether a vacant non-agricultural plot of land is considered a capital asset eligible for exemption under Section 54F of the Income Tax Act upon its sale. The consensus is that it is indeed eligible, provided it is a long-term capital asset. Section 54F generally applies to the sale of any capital asset, making land a qualifying asset for this exemption.

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Team Lead
7558 Points Posted on 20 September 2020
Yes it is eligible, as the section states, any capital asset that is sold us eligible for exemption.
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On 20 September 2020 at 23:35
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Tax and Business Consultant
11616 Points Posted on 21 September 2020
Yes, eligible for Exemption u/s 54F at time of sale if it's long term Assets..
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On 21 September 2020 at 08:30

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