Section 54f

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SRINIVAS (Querist)
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26 March 2014 Hai experts.....
this is Srinivas ,i have a small doubt regarding capital gain exemption under section 54F.
i.e If Assessee who have sold commercial house property for 2 crores, Has purchase residential house property of value 1.2 crores in the name of his Son,
Is he eligible to claim any exemption Under section 54F

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 March 2014 yes proportionate exemption should be available. the proportion is computed as capital gains *amount reinvested/sale consideration

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Rupesh Jain

Rupesh Jain (Expert)
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21 April 2014 you can received exemption u/.s 54F
according to u/s 54F all sale proceeds will be invested in house property if you are not invested total sales proceeds then

capital gain from tfr of property/ sales proceeds X value of property purchase= amount will exempt form capital gain
on balance amount you have to pay capital gain tax .

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