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5 days ago · An individual or HUF can claim a capital gains exemption under section 54F of the Income Tax Act by investing in residential house property.
May 18, 2019 · Section 54F of the Income Tax Act 1. Assessee is an Individual or HUF. 2. Capital Gain arises from the Sale of any capital asset other than Residential House.
3 days ago · Sec 54 & 54F exemptions aren’t just for Property Owners: Here’s How you and your spouse/Legal Heirs can benefit: Section 54 and 54F of the Income Tax Act provide crucial exemptions on capital gains from the sale of residential property when reinvested in another residential property. A recent judgment by the Hyderabad Income Tax Appellate Tribunal (ITAT) has broadened the scope, allowing exemptions even when the new property is purchased in the name of the assessee’s spouse or legal heir.
Mar 16, 2020 · Provisions of section 54F of the Income Tax Act provides exemption towards long term capital gain (other than a residential house) when the amount is invested in purchasing or constructing a new residential house property. The entire provisions of section 54F are explained in the present article.
6 days ago · Section 54F of the Income Tax Act, 1961, permits tax exemption on long-term capital gains generated from the sale of a capital asset excluding a residential property. Thus, if you sell assets such as shares, bonds, jewelry, or gold, this provision applies.
Oct 12, 2023 · Section 54F of the income tax act is an exemption on Capital Gains. It is available when new house property is purchased from a sale of LTCA.
Nov 5, 2023 · With respect to fiscal 2023, as per Section 54F of the Income-tax Act, 1961, you are eligible to claim a deduction from LTCG arising on transfer of an asset (other than a residential house), with...
