Saction 54F on Capital Gain

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One of my Client Received Long Term Capital Gain Profit 18,00,000.00 by selling his Share/Mutual Fund of 56,55,854.00 and he Purchase a new Residential Flat in Same Year which cost 45,57,000.00 . Now I need to know that is there any Tax Payable for the Long Term Capital Gain and how i will show the benefit of 54F in ITR - 2. 

Replies (7)

Yes, LTCG tax liability will be around 70K.

Claim deduction u/s. 54F in schedule CG while declaring the LTCG of the shares sold.

Thank Your for Your Reply Sir, But He get Profit of 18,00,000 and he Re-invest 45,47,000. then how the LTCG Comes?

He invested 45.47L in the ratio of shares sold 56.55L ........

Thank You Again Sir, I need one more Help. When I am giving the information about 54F ,its asking for deposit account details. I already Paid the entire purchase amount to the construction company. now which account details i have to put here. I attached the Screen shot also. Please Help Me.

As you have already paid full amount for the purchase of property, and when you are not going to claim any additional deduction u/s. 54F IT act, in that case you need not deposit any amount in CGAS account, There it will be ZERO.

I cant Understand. Then where i have to show the Flat Purchase Amount in ITR - 2. If i dont show it the LTCG will be high. 

You have to show only investment amount of 45.57K which you have declared. But not in 'Amount deposited in CGA', where you have declared Rs. 10L. That is not required to be deposited at all.

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