Capital gains under sec 54f

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sandeep (Querist)
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09 October 2011 Can the cost of stamp duty/ registration charges be included in the cost of new house purchased (from the part of sales proceeds of sold land)for claiming LTCG exemption under sec 54 F. HOW is LTCG exemption under sec 54F calculated in such case of part utilisation of sales proceeds of land. Please reply URGENTLY.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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09 October 2011 yees it will be inckluded
ur second question is not clear

CA MANOJ GUPTA
JODHPUR
09828510543

sandeep

sandeep (Querist)
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09 October 2011 Please give the calculation formula for my question for calculating the LTCG exemption available on utilising a part of the land sale proceeds for purchase of new house under sec 54F. Thanks.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 October 2011 In such a situation the exempted capital gains under section 54 F shall be worked out as follows:-

Capital gains multiplied with cost of the new asset and divided by net sale consideration.