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Capital gain Query
Can we avail the benefit of exemption under section 54F, 54EC on sale of capital asset which earlier converted into stock in trade and later sold ?
Replies (5)
Sec 54EC is applicable only when there is a transfer of capital asset (house) and investing the sale proceeds in infrastructure bonds.
In definition of section 54EC capital asset is mention which means all capital asset under section 2 (14) , not only house
Yes.
54F if invest in Hp
54 EC for investing in specified investment instrument.
coverted asset can be treated as longterm & profit as longterm capital gain
54F if invest in Hp
54 EC for investing in specified investment instrument.
coverted asset can be treated as longterm & profit as longterm capital gain
Sec 54F, 54EC, all are for land building and flats yes an assessee is eligible for capital gain exemption U/S 54F of the act of the investment is done when converted stock in trade is sold
The law stands correct as per Sec 54EC.
All capital asset transfer.
But , I have told u the general trend.
Sec 54 F, Sec 54 EC stands for availng exemption on transfer of capital asset and availing benefit out of it .
All capital asset transfer.
But , I have told u the general trend.
Sec 54 F, Sec 54 EC stands for availng exemption on transfer of capital asset and availing benefit out of it .
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