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Capital Gain
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....apital Gain<br> Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 16-1-2023 Last Reply Date:- 16-1-2023 Income Tax<br>Got 1 Reply<br>Income Tax<br>A resident of India, holds shares in a fore....
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....ign company. He wishes to sell the such shares and re-invest the sale proceeds in a residential property (his first property) in India and claim exemption u/s 54F. My opinion is, it is possible. Can ....
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....experts' comment on my view. Reply By PRIYACHARAN SR: The Reply: "My Opinion" In your context, to determine the eligibility, we need to verify the definition of long term capital asset as....
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.... per Section 54 F "Capital gain on transfer of certain. capital assets not to be charged in case of investment in residential house". Section 54F defines long term capital asset as "Wh....
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....ere, in the case of an assessee being an individual, the capital gain arises from the transfer of any long-term capital asset, not being a residential house". Since the bare act uses the phrase a....
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....ny long -term asset, not being a residential house, Shares held in foreign company is an eligible long term capital asset to claim deduction u/s 54F (assuming the holding period criteria is satisfied ....
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....in your scenario). Hence you may invest the sale proceeds in residential house property and shield your capital gain arising under section 54F.<br> Discussion Forum - Knowledge Sharing ....