Poonawalla fincorps
Poonawalla fincorps

Short term capital gain

This query is : Resolved 

14 March 2014 hi friends,

when a land has been sold and the said proceeds has been invested for purchase of another land, then in such a case how can an assessee claim exemption ?

section 54F allows for purchase of only residential house property.

The land is sold within 3yrs from purchase being a short term capital gain transaction.

please help in solving this query.

14 March 2014 Exemption is available only for LONG terma capital gain.

Since you have short term capital gain exemption is NOT available.



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