Capital Gains Exemption

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  1. S Mitra

    S Mitra New Member

    I jointly own an independent house. I also have a small 25x40 sft residential plot in a Housing Society (booked before purchase of the house but got possession after purchase of the house). I do not have any other house or plot. I plan now to keep the independent house and dispose off the plot to purchase a new flat. In this case please suggest what shall be the treatment for Capital Gains Tax Exemption for sale of the plot.
  2. rudrabose

    rudrabose Active Member

    The funds received from sale of plot which have been reinvested in purchasing another house can be claimed as exemption under Section 54F
    S Mitra likes this.
  3. S Mitra

    S Mitra New Member

    Thanks very much. S. Mitra
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