sectio 54f

hi sir, actually i have a industrial plot in noida whose details are lease deed in dec 2009 possession date is jan 2010 allotment date is jan 2009 I want to sell it now by taking full white money because i had found a party with good deal. can i sell it without any tax. I have been told that if i wait till it is long term asset and then purchase residential property, there will be no tax. But is it possible to purchase also by giving full white money nowadays practically. also tell me how much time will i have to wait

asked Mar 01 '12 at 03:04 by Anand Rungta 1234


As you received possession of plot in Jan 2010, if you sell it before Jan 2013, it would be considered a short term gain and no tax benefit would be available to save tax on short term gains.

However if plot is sold after three year's holding, it would become long term gains. You can save income tax on long term gains u/s 54F or 54EC.

Under 54F, you can buy/construct a residential house property. Under 54EC, you can invest into capital gain bonds.

answered Mar 02 '12 at 19:58 by pankaj 5.2k320

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Asked: Mar 01 '12 at 03:04

Seen: 1,142 times

Last updated: Mar 02 '12 at 19:58