Capital Gain Tax

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  1. Vijesh Augustine

    Vijesh Augustine New Member

    I am selling two properties in one compound. One is a residential house and the other is chain of shops in front of the said house. Once bought in 2008, it was registered as two different properties. But now the buyer is insisting on buying the said property as one property. But we have told them that even if it is getting registered as one, value of two should be mentioned separately.

    In that case will I eligible for tax exemption under section 54F, if the complete sale receipt of sale of shop is invested in another residential property (say house 1)( I currently hold only one residential property in my name other than the selling property).

    Also will I be eligible for tax exemption under section 54, if a portion of long term capital gain from sale of residential house is invested in house 1. ( Because purchase price of house 1 is more that total receipt from sale of shop)

    Regards,

    Vijesh Augustine
    [email protected]
     
  2. ZED

    ZED Well-Known Member

    Although what you are contemplating is possible but it appears it is not the most beneficial scenario. But to accurately claim this I need the values aswell.
    For capital gain queries, you may also contact me through my mail
    [email protected]
     
  3. Vijesh Augustine

    Vijesh Augustine New Member

    Dear Prateek,

    Mailed you the details. Kindly suggest beneficial scenario please.

    Regards
    Vijesh
     
  4. ZED

    ZED Well-Known Member

    I have replied to your query ,asking for further clarification on certain points. Kindly continue the discussion on mail.
    Whatever documents I will be requiring, including the documents of the registry of properties, I will require them to be sent to my mail address.
     
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