54f

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 February 2014 our client has claim under 54F in last year. (Land sale and residential property purchase),

but before 3 yrs he want to sale this property and also want to exemption which has already taken.

is it possible by sale this property and invest in bond?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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13 February 2014 No if any exemption taken u/s 54F and has been allowed then the said property cannot be sold within 3 years. If sold within 3 years the same shall be treated as short term capital gains and the exemption already taken shall be withdrawn. As now a days any property transaction above 50 Lacs are scrutinized

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