Pay zero taxes on earnings from shares and mutual funds utilizing Part 54F
A taxpayer can declare a capital acquire exemption below Part 54F of the Revenue Tax Act to scale back Capital Good points Tax on the sale of a Lengthy Time period Capital Asset. Part 54F exemption is accessible on the sale of a long-term capital asset aside from home property if the taxpayer invests the sale consideration within the buy or development of a residential home property.
So, in case you promote a capital asset like shares, bonds, jewelry, gold, and so on. and reinvest the sale proceeds in the direction of the acquisition or development of a home property, the returns earned on the sale of the capital asset could be allowed as an exemption from tax below Part 54F.
The utmost exemption quantity is as much as capital good points. The quantity of Exemption below Part 54F might be as beneath:
Exemption quantity = Value of latest asset x Capital Good points / Web Consideration
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Disclaimer: These aren’t any suggestions for any funds or shares and are meant just for instructional functions.
Analysis Analyst disclaimer: https://groww.in/p/sebi-research-analyst-regulations
Title of the Analysis Analyst – Mr. Himanshu Sinha
Title of the narrator – CA Aleena Rais
Report Date: 14 June 2022
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