23 November 2009
A Firm invested in idustrial plot booking in 5 year ago ,now he sells it & purchase another indutrial plot . can he claim the exemption under head 'capital gains' chapter and under which section?
23 November 2009
Hi Jagat, no exemption is available to the firm. The only benefit it can get is of indexed cost as it is a long term capital asset. Regards, CA Shakuntala Chhangani
CAclubindia
