Long term capital gain on shares invested for purchases of flat ..
This query is : Resolved
27 July 2023
Hello Sir
I have one question .
Suppose Mr A had long term capital gain on shares of Rs. 15 lakhs . ( 40 lakh sales - 25 purchase cost ) .
If he had invested capital gain of Shares for purchases of new flat of Rs. 60 lakhs ..( 1/3 shares .. total cost of flat is 1.80 cr)
then
whether Mr A will get exemption u/s 54 F of income tax act. ?
Whether exemption of section 54 F is applicable for capital gain of shares ?
I have one question .
Suppose Mr A had long term capital gain on shares of Rs. 15 lakhs . ( 40 lakh sales - 25 purchase cost ) .
If he had invested capital gain of Shares for purchases of new flat of Rs. 60 lakhs ..( 1/3 shares .. total cost of flat is 1.80 cr)
then
whether Mr A will get exemption u/s 54 F of income tax act. ?
Whether exemption of section 54 F is applicable for capital gain of shares ?
27 July 2023
Yes, he can get 100% exemption u/s. 54F, when he invests Rs. 40 lakhs or more, within specified time, in purchase of new HP; subject to conditions specified under the section.
14 August 2023
Thanx for quick reply . I have benefited lot as my consultant was not aware and he says that u will not get benefit. Finally he agreed and I have saved tax.
Till date more then 15 quarries raised and all answer got quickly and. Correct. Thanx sir.
Till date more then 15 quarries raised and all answer got quickly and. Correct. Thanx sir.
14 August 2023
Most welcome.
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