Capital gain exemption under section 54 & 54gb.

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kabir

kabir (Querist)
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13 May 2018 can exemption under section 54 & section 54GB both can be avail in a single gain transaction?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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14 May 2018 These two sections are separate sections hence benefits of both the sections can be taken.

kabir

kabir (Querist)
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14 May 2018 exemption under sec 54&54GB in single transaction
if you look in this link i have attach ICAI text book it say something different. it will be great sir if you can share you thought https://www.caclubindia.com/forum/exemption-under-section-54-amp-section-54gb--462289.asp

Read more at: https://www.caclubindia.com/experts/experts_profile.asp?member_id=178076

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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14 May 2018 Net Sales Consideration is say, 2 crore & capital gain is 50Lac.
You have invested Rs 20L in a new Residential House and claimed deduction U/s 54.
If you invest 1,20,00,000/ U/s 54GB you are eligible to get deduction of Rs 30Lac.
Net Sales Consideration does not mean entire net consideration.

kabir

kabir (Querist)
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15 May 2018 thank you sir, thanks a lot.