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Mr. Ankit is trying to get an exemption of Rs. 2 lakhs under the category of Exemption on Sale of House Property on Reinvesting in specific bonds. Among the given under which of the following section he can apply for the same?
  • a)
    Section 54 EC
  • b)
    Section 54 F
  • c)
    Section 56
  • d)
    Section 57
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Mr. Ankit is trying to get an exemption of Rs. 2 lakhs under the categ...
Section 54 F - Exemption on capital gains on sale of any asset other than a house property
Section 54EC - Exemption on Sale of House Property on Reinvesting in specific bonds
Section 56 - Incomes taxable only in Income from Other Sources
Section 57 - Expenditures allowed as deductions
Hence, option (a) is the correct choice.
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Mr. Ankit is trying to get an exemption of Rs. 2 lakhs under the category of Exemption on Sale of House Property on Reinvesting in specific bonds. Among the given under which of the following section he can apply for the same?a)Section 54 ECb)Section 54 Fc)Section 56d)Section 57Correct answer is option 'A'. Can you explain this answer?
Question Description
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