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Whether exemption u/s 54 applies to Gain arise u/s 112A

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8 Points Posted on 07 November 2019
If Long term capital Gain u/s 112A is ₹3000000 and from this proceeds I purchase Residential Flat.can I claim exemption u/s 54 ??
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On 07 November 2019 at 16:41 Report
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49 Points Posted on 07 November 2019
Hi Vijay,

LTCG u/s 112A is for sale of equity shares and funds.

Exemption u/s 54 is available only on LTCG on sale of RESIDENTIAL PROPERTY. As 112 is not on sale of residential property, exemption can't be claimed
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On 07 November 2019 at 17:55
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947 Points Posted on 07 November 2019
No section 54 exemption is related to sales of LTCA I.e. immovable property. Hence not available in respect of LTCG us 112A
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On 07 November 2019 at 22:04
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12244 Points Posted on 08 November 2019
I think you can claim deduction under section 54f
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On 08 November 2019 at 00:42
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34 Points Posted on 08 November 2019
Yes deduction u/s54F can be claimed
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On 08 November 2019 at 18:40
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2 Points Posted on 10 November 2019
Yes but u can claim u/s 54 f only not u/s 54
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On 10 November 2019 at 09:47


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