Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8311 Points)
28 July 2024I want to know regarding the exemption availability of benefit under section 54 as regarding capital gain and investment in new capital asset.
Whether the benfit is available under New Tax Regime for investment made in capital asset to reduce tax liability on capital gain arising on sale of the prescribed Capital Asset as per the old tax regime.
Please guide with notification/circular or any other relevant referece material.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169085 Points)
Replied 28 July 2024
Exemption u/s. 54 IT act remains same under old or new regime.
Only deductions available under chapter VI A are not eligible in New regime.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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