Is exemption under section 54 or any other section available if the long term capital gains made from sale of shop is re invested in purchase of new shop.
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Capital Gains on Sale of Shop
Replies (4)
No, exemption u/s 54 can be availed only on purchase of a residential house property.
U can a avil exemption under section 54F by investing whole money received from sale.
Only exemption u/s 54 can be availed for purchase of new house
Commercial property is not eligible for any type of exemption under any section
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