Sold Shares and purchased Open plot

Hello all,

One of my client sold Shares (Long term) and invested the same in Open plot.

Is he eligible for claiming capital gains u/s  54F?

 

Little bit urgent. Please help

 

Thank you.

Replies (3)
Quick Summary
A client has sold long-term shares and reinvested the proceeds into an open plot of land. The question is whether this investment qualifies for capital gains tax exemption under Section 54F. The response indicates that exemption is possible if the intention is to construct a house on the plot within the stipulated timeframe.

No.

If going to construct any house property over it (within stipulated time period); then yes.

Thank you for quick response.

You are welcome.               

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