Menu
Long term capital gain
One of My Clients has sold land (Non Agriculture ) on 26/12/2014 but he has not been neither deposited any amt. in capital gain a/c scheme nor made any investment in sec 54 till the date of 31/ july /2015 but after due date of filing return of a.y. 2015-16 he purchases a house property on 18/nov/2015. Now my queation is that is any exemption of sec 54F or other available for the above situation ?
Please Suggest me how to save tax in above case?
Replies (3)
As per section 54F, the new house has to be bought within 2 years from the date of sale of property. So, exemption will be available.
Hi Babita,
kindly go through the link /articles/capital-gains-exemption-from-tax-u-s-54-54f-23471.asp
Thank you so much for providing kind solution
Recent Threads
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
- 194a for A y 2024-25
- Compensation & Benefits
- SAC code and GST rate transport services for anima
- Section 44AB is Gone — How Different is Tax
- Capital Gains from Cancelled Residential Project
Related Threads
CAclubindia
