Sir,
To claim Capital Gain income tax exemption u/s 54F, if there is any sealing in amount for the exemption. I guess the limitation of Rs. 2 Crores is only for the second time claim in life term. Please experts clarify.
1 Replies
hemant sharma
(141 Points)
Replied 24 March 2022
Under section 54 investment in two house property when capital gain arising from trasfer of residential house property is available once in life time subject to such capital gain should not exceeds 2 crore
Section 54F of the Income Tax Act, 1961 is a section that allows tax exemption on the long term capital gains earned from selling a capital asset, other than a house property.
*net consideration invested in purchase or construction of house property
exemption =
capital gain * amount invested/net sale consideration
additional condition under sec 54f
one the date of trasfer of ltca assessee should not more than one residential house property
Section 54F of the Income Tax Act, 1961 is a section that allows tax exemption on the long term capital gains earned from selling a capital asset, other than a house property.
*net consideration invested in purchase or construction of house property
exemption =
capital gain * amount invested/net sale consideration
additional condition under sec 54f
one the date of trasfer of ltca assessee should not more than one residential house property
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
