exemption u/s54 f

It depends upon the fact whether the said plot is a Business assets or Long Term Capital assets. If it is a long-term capital assets and at the time of sale u are not owning more than one house, invest entire consideration of plot in purchase of new house to claim exemption u/s. 54F.

Thanks,

CA. Ashok Shah

If it is a long-term capital assets and at the time of sale u are not owning more than one house, then u can  claim exemption u/s. 54F.

if it is business asset and you claim depreciatoin then u can not claim exemption