Reply 54 & 54 F

u can avial both exemption but u preference to first 54 then after 54 f section because in 54 exemption limit is "investment or LTCG w.e. higher " and 54 f limit  is " investment *LTCG/ Net consideration "

so First Preferance to 54 then 54F

Replies (8)

no..section 54 is for capital gain by transfer of residential house property and 54F is fr capital gain by transfer other than residential house propert..how can u claim both??where is the question of preference?do not get confused..both are separate things

in the question he sell residentail house and share so first apply 54 for selling residentail house  and purchasing other residentail house 

better will be bifurcating both the capital gains and adjusting the exemptions separately....coz u cant claim sec 54 deduction on capital gain made by selling shares....ok..so do separate calculations fr both- 54 fr house property and 54F for shares..

 

Revert if u have any further doubt..

 

Regards!!

dont mix them ok..  

 

and give proper working notes to make it clearer to the evaluator..

Hey sunshine devang is right here 54 nd 54F are different on account of sale as 54 deals with sale of resi HP and 54F deals with sale of other than resi Hp.

But when it is a question of claiming exemption then it is a matter of purchasing a new HP.

So deduction claimed where it is more benificial i.e. sec 54F coz whole amound is qualified yes upto the amount of capital gain.

Do the working .... and get us answer

yes yes got ur logic..if u have the requsite amount of ltcg from both , section 54 is to be given due preference at the time of buying HP

 

hey 54 will be given preference i think...what say?

Yeah section 54 will be given prefrance.

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