Exemptions under Section 54 Series
SUMMARISED VIEW OF EXEMPTIONS SPECIFIC TO CAPITAL GAINS HEAD OF INCOME: - Sr. N o. Description Sec. 54 Sec. 54B Sec. 54F Sec. 54D Sec. 54EC Sec. 54G Sec. 54GA 1. Eligible Assessee Individual & HUF Individual & HUF Individual & HUF Any Assessee Any Assessee Any Assessee Any Assessee 2. Asset to be sold Any Long-term capital asset being Residential House subjected to IFHP (Buildings or Land appurtenant thereto) Urban Agricultural Land (used by assessee being individual or his parents or by HUF for agricultural in immediately preceding 2 years) Any Long-term capital asset (other than residential house) but including plot of land Note: Not owning more than 1 resi. House in India at said point of time ...