I am selling commercial property for 7 Crore, and assuming that I have 5 Crore capital gains. To seek exemption under Section 54F, is there an upper limit in terms of the amount I can claim. Let’s say I buy a residential property worth 7Crore (entire sale amount), is my entire capital gains tax exempted? Or would an upper limit of some sort apply?
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I am selling commercial property for 7 Crore, and assuming that I have 5 Crore capital gains. To seek exemption under Section 54F, is there an upper limit in terms of the amount I can claim. Let’s say I buy a residential property worth 7Crore (entire sale amount), is my entire capital gains tax exempted? Or would an upper limit of some sort apply?
Anonymous posted January 29, 2022 at 11:29 amComment
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