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Whether exemption u/s 54 applies to Gain arise u/s 112A
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 ??
Replies (5)
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
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
No section 54 exemption is related to sales of LTCA I.e. immovable property. Hence not available in respect of LTCG us 112A
I think you can claim deduction under section 54f
Yes deduction u/s54F can be claimed
Yes but u can claim u/s 54 f only not u/s 54
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