Income tax capital gains exemption

Exemption u/s 54 and 54F can be availed simuntaneously

However for availing exemption u/s 54F entire NET CONSIDERATION is reqiured to be INVESTED for exempting entire cap gain whereas in sec 54 only Cap gains need to be INVESTED.

 Krishna ji,

The assessee can claim both the exemption on single new house, provided the conditions are satisfied.

e.g. Mr. X owns a self-occupied residential house and a plot of land. (he has no other house) he sells the house on 31.01.2007 for 6,50,000/-(purchased on 31.01.2002 for 4,00,000/-) and plot of land on 15.02.2007 for 5,00,000/- (purchased on 30.03.2002 for 2,00,000/-). He purchased a new residential house on 25.04.2007 for 5,00,000/-.

Please refer to the attachment for calculation. 

In the above case, first exemption u/s 54 is claimed and fully utilised. Then balance of cost of new house has been claimed against section 54F.**

** It’s been noted that u/s 54F exemption can be claimed as under

[Cost of new house * CG / net consideration]

Sir, Same discussion is going on your another post.

yes, bt first use 4 sec 54 exemption den go 4 54F..