Hi! I wish to sell a vacant urban plot owned by me and invest in another urban plot land. How to avail the maximum benefit/exemption from paying tax on the capital gains?
Anant jain (business) (30 Points)
29 December 2014
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 02 January 2015
if selling amount you invest again in urban land, then no exemption available there.
CS Advocate Abhishek Goyal
(M Com FCS LLB M-AIMA )
(13614 Points)
Replied 06 January 2015
No exemption is available for investing in urban land. You may instead invest in notified bonds under section 54EC or construct or purchase a new house property so as to claim exemption u/s 54F.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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