Capital gain
This query is : Resolved
22 December 2012
Hello sir/madam
I have a property (long term)other than residential property which i want to transfer. i also own a residential property in delhi (long term) and 50% share in residential property in jaipur (long term). if the full sale consideration realized from the sale of property, i invest in acquiring other 50% share in jaipur's property then will i get the exemption uder section 54f.
THANK YOU
I have a property (long term)other than residential property which i want to transfer. i also own a residential property in delhi (long term) and 50% share in residential property in jaipur (long term). if the full sale consideration realized from the sale of property, i invest in acquiring other 50% share in jaipur's property then will i get the exemption uder section 54f.
THANK YOU
23 December 2012
You are not fulfilling the basic eligibility condition for applicability of section 54F. You should not own more than one residential house as on the date of transfer of the long-term capital asset (other than residential house property). Hence you cannot claim exemption u/s 54F at all.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
