Is exemption under section 54 or any other section available if the long term capital gains made from sale of shop is re invested in purchase of new shop.
4 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 14 August 2021
No, exemption u/s 54 can be availed only on purchase of a residential house property.
suren malik
(3 Points)
Replied 14 August 2021
U can a avil exemption under section 54F by investing whole money received from sale.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 14 August 2021
Only exemption u/s 54 can be availed for purchase of new house
Avtar Singh
(363 Points)
Replied 17 August 2021
Commercial property is not eligible for any type of exemption under any section
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