EASYOFFICE

Capital gains

This query is : Resolved 
Profile Image

Profile Image

(Querist)
24 May 2017 The assessee is an NRI. He sold residential Land for Rs 97,50,000 in FY 16-17. There after he purchased capital gain bonds U/s 54Ec for Rs 50,00,000 & spent the remaining amount in construction of his house.

Will he Get the Benifit U/s 54 or 54F ?
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
24 May 2017 under 54F as the asset disposed off is not a residential house.
Profile Image

AMANDEEP

Profile Image

AMANDEEP (Querist)
24 May 2017 Can he claim both i.e Partially 54Ec for 0 Lacs & Remaining in construction of House
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
24 May 2017 both sections are independent of each other. so yes, he can claim both exemptions. But what you mean by 0 lacs?
Profile Image

AMANDEEP

Profile Image

AMANDEEP (Querist)
24 May 2017 It was 50 lacs , Wrongly typed 0, Thanks
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
24 May 2017 you are most welcome :)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links