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exemption u/s 54 & 54EC
can exemption be claimed simultaneously u/s 54 & 54EC in respect of capital gain on sale of a single house property. E.g. if LTCG is 80 lakh can assessee invest 40L in capital gain bonds & buy new house for 40L to claim exemption?
Replies (8)
Yes, exemption under both sections can be availed simultaneously, for capital gain over any single house property transfer.
yeah both the exemptions can be availed at the same time provided you satisfy the required conditions
yeah both the exemptions can be availed at the same time provided you satisfy the required conditions
Yes, exemption u/s 54 and 54EC can be claimed simultaneously.
yes... you can grab exemption from both section simoltunuisly
Yes, you can simultaneously claim the exemption u/s 54 and 54EC.
I am further inquisitive as to amt paid for registration stamp duty can be deducted u/s 80C.
so exemptions under 54. 54EC and deductions upto 1.5 lakhs under 80C. Seperate chapters also.
40 lakhs - EC bonds - exemption
(40 - 1.5) lakhs under 54 - exemption
1.5 lk under 80C - deduction
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