Article CA-Final
149 Points
Joined August 2011
ya but now plz try to answer this one
For all the genius who have opened it please answer my following query related to ur sullabus :-
Query regarding CAPITAL GAINS:-
I have sold a 1000 sq. yards land and have a long term capital gains on that. Now my query is that
1. If I purchase another 1000sq. yards "LAND" only, will I get exemption from Income Tax on such Capital Gains u/s 54F?
2. or should I purchase a "HOUSE" only to get such an exemption ?