Capital gain on sale of shares /buying commercial property.

This query is : Resolved

Gopal Khetan (Querist)
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04 November 2014 Dear Experts,

Please advise if I sell my holding in a pvt ltd co, and use the same proceeds,includin g the capital gains to buy office and warehouse for new business, can the capital gains be exempted ?

Please elaborate with section details.

Thanks !

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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22 November 2014 Section 54F provides exemption from long term capital gain tax if the sale proceeds are invested in a RESIDENTIAL house property.

Exemption is NOT available if amount is invested in a commercial property.