Monday, January 6, 2014

[aaykarbhavan] Exemption u/s 54F



My client had a capital gain of Rs. 1.35 crore from sale of share, now within 6 months prior to the sale of shares  he deposited Rs. 1 crore to purchase a house property as ADVANCE , though the property is under construction will be handed over to my client  after 2 years , now my question is whether this ADVANCE payment of Rs.1 crore can qualify as exemption  u/s 54F  for the financial year 2013-14 against the capital gain of Rs.1.35 crore

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