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Q. > Please Help: Capital Gain u/s 54
Whether exemption u/s 54 can be avalied by purchasing residential cum property
3 Answers
answered Feb 19, 2012 by Mrattunjay , New Delhi
YES
answered Jul 02, 2012 by Rambabu Senkarasetti , Guntur
answered Jul 02, 2012 by Rambabu Senkarasetti , Guntur
Yes
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Comments
lavina bajaj
02-Feb-2012 , 03:52:35 pmhello abhinav the details furnished by you are incomplete to suggest u on the same.. kindly furnish complete details..
PANKAJ BANSAL
02-Feb-2012 , 04:11:57 pm????????
CA Gaurav Kumar Agarwal
09-Feb-2012 , 02:31:59 pmwithin the ambit of ur question which is incomplete. i m suggesing u that. u can get the exemption u/s 54 for the property purchased subject to the condition that the property is residential or u are going to construct residential plot on that property within the time prescribed. Thankls CA Gaurav
Abhinav
03-Jun-2015 , 02:14:31 pmAssessee invested residential sale proceeds in Residential cum commercial property , as Urban Improvement trust allotment letter said ground floor as commercial property and first floor is residential, whether sec 54 exemption is available in this case, AO has allowed the exemption but u/s 263 CIT has re-opened the case u/s 148, now AO u/s 148 has deleted the exemption as per direction of CIT, now case in first appeal.