29 February 2024
I sold open plot of land in 1.40 crore. Indexed Cost of purchase is 0.24 crore. LTCG is Rs. 1.16 Crore. I want to save capital gain tax by following exemptions. I have purchased Tax Saving Bonds (54EC) of Rs. 50 Lakhs and want to purchase new residential house value of Rs. 70 Lakhs (Sec 54F) . Thus total investment comes to Rs. 1.20 crore.
Queries 1. Can I claim both deduction u/s 54 F & 54 EC ???? 2. If investment in bonds partly and investment in new residential house party is possible??
CAclubindia
