24 November 2008
Hi, I Want to Know More Discussion About Exemption Available in Capital Gains, I Read in Book But Fully my Concept Not Cleared. I Want to Know More Explanation About These Sections. Please Get me to Understandable Point.
24 November 2008
ONLY ONE EXEMPTION UNDER SECTION 54F IS COMPLEX ACCORDING TO ME. REST ARE OK DEAR. FIRST SEE WHETHER THE EXEMPTION IS IN RESPECT OF LONG TERM OR SHORT TERM CAPITAL ASSET. WHAT IS THE LOCK IN PERIOD FOR THE NEW ASSET WHICH IS PURCHASED WITH THE SALE PROCEEDS OF OLD ASSETS.
90% OF THE WORDING OF ALL EXEMPTIONSN IS SAME. EXCEPT THAT UNDER SECTION 54EC MAXIMUM EXEMPTION LIMIT IS RS.50LACS
CAclubindia
