Sale of plot

RAJ KUMAR (FINANCE MANAGER) (1393 Points)

29 July 2013  

HELLO FRIENDS,

MU CLIENT HAS SOLD A PLOT AND EARNS A LONG TERM CAPITAL GAIN

CAN HE CLAIM EXEMPTION U/S 54F OR NOT.

SEC 54F STATES THAT ANY LONG TERM ASSET EXCEPT RESIDENTIAL HOUSE.

PLOT IS NOT A RESIDENTIAL HOUSE.

PLS. REPLY ME.

THANKS.