Can capital gains exemption u/s 54F or 54 be claimed for buying land also?

Print Friendly

Yes, one can claim exemption from capital gains u/s 54 or 54F for land purchase , but only if the said land is part of land on which house is being constructed. ┬áThis is the decision in ACIT vs Narendra Mohan Uniyal (2009) 34 SOT 152(Del), dt.31.08.2009. Facts of the case The assessee sold a…

Tags: Exemption land plot of land Section

The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

Related Post "Can capital gains exemption u/s 54F or 54 be claimed for buying land also?"

Tax Planning Idea for Bonus Shares Announcements!
Infosys has recently announced bonus issue of
Income from Growing Vegetables on Roof Not Tax Free !
As the urbanisation is taking shapes fast,