banner_ad

Cost of acquisition of Long term capital Gain & investment us 54EC

Others 378 views 3 replies
If a person has one very old flat thereafter a builder gave him one new flat in consideration to old flat. I think this transaction will attract capital gain. But the assessee has not filed ITR for that year (Even if he would hv filed ITR for that year then there would be no tax because of section 54 exemption I guess). Now he sold that new flat also after 3 years for say around 60 lacs. can he take the FMV of this flat as on the date of purchase as its cost of acquisition & balnce amount can be invested us 54EC ? or shall he invest entire 60 lacs i.e. after taking COA as Nil?? plz advice on this matter ( Expecting the reply of Dhirajlal Sir)
Replies (3)

Cost of acquisition would be FMV of the flat when he received possession of the flat from builder..

So, calculate LTCG based on indexed cost of the FMV and as such the LTCG can be invested in sec. 54EC bonds, for nil tax liability

Yes sir .. thank you very much.

You are welcome ...                   


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details