Long Term Capital Gain from sale of Mutual Funds

Tax queries 122 views 5 replies
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finance consultant
75 Points Joined May 2009

Sir,

What are pre-conditions for claiming exemption from Long term capital gain on Sale of Mutual Funds.

Please clarify whether one has to reivest the entire  sale proceeds to claim exemption.

Can we claim exemption up to Rs.100000/- with out further investments. if so, under which section.

Please reply at the earliest.

Thanks & regards,

Gopalakrishna Pillai 

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On 28 July 2024 at 18:42 Report
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CA
10431 Points Joined March 2019
Hi, LTCG is exempt upto 1lacs in 112A
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On 28 July 2024 at 18:52
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27910 Points Joined May 2017
This year increased upto 1.5 lacs
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On 28 July 2024 at 19:27
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finance consultant
75 Points Joined May 2009

Sir, 

My query is very specific. Whether one has to re-invest the entire consideration to avail exemption. 

Please reply.

Thanks & regards,

Gopalakrishna Pillai

 

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On 28 July 2024 at 20:00
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SEO Sai Gr. Hosp.
197218 Points Joined July 2016
  • To claim exemption u/s. 54F entire sale consideration is to be invested
  • Sec. 112A IT act...
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On 28 July 2024 at 20:22
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27910 Points Joined May 2017
No not necessarily
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On 29 July 2024 at 08:55


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