HELLO FRIENDS,
MU CLIENT HAS SOLD A PLOT AND EARNS A LONG TERM CAPITAL GAIN
CAN HE CLAIM EXEMPTION U/S 54F OR NOT.
SEC 54F STATES THAT ANY LONG TERM ASSET EXCEPT RESIDENTIAL HOUSE.
PLOT IS NOT A RESIDENTIAL HOUSE.
PLS. REPLY ME.
THANKS.
Menu
Sale of plot
Replies (2)
Sec54 is incase of residential house property and sec54F is in incase of other than resisential property
since plot of land is not a residential property,u can claim exemption under sec 54f up to the proportion of sale consideration received from the proceeds of the sale
Exemption under sec.54 F available.
Recent Threads
- Indemnity bond notarization for Income Tax (NRI ou
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
Related Threads
CAclubindia
