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15 December 2008 If a person sold a house property and fail to invest according to Section 54 F. and also fail to deposit capital gain in capital gain account which has to be maintained with bank. Can he avail exemption under Section 54F
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
15 December 2008 No, the person can not claim exemption
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Ravikumar.G

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Ravikumar.G (Expert)
15 December 2008 Time limit for 54F:

For purchase : Within one year before or two yrs after the date of transfer.

For construction : within 3 yrs after the date of transfer.

Holding period of new asset is 3 years.
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
15 December 2008 Yes, if he failed to invest i time given u/s 54 then exemption cannot be claimed.

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