This lady from Kolkata paid zero taxes on โน26 crores gain that she made in the stock market! Let me explain you how.
Hi, this is Chandralekha and I love talking about money.
๐ก What exactly happened
๐ Saroj Goenka from the promoter family of Emami Limited sold 36 lakh shares for about โน34 crore
๐ This created a long-term capital gain of nearly โน27 crore
๐ The tax department issued a notice asking her to pay โน3.2 crore in tax
๐ก How she legally paid ZERO tax
๐ She claimed Section 54F by reinvesting sale proceeds into constructing a residential bungalow
๐ Officers argued she owned multiple properties, which could cancel the exemption
๐ Those properties were a joint asset and an industrial land, not counted as residential houses
๐ The ruling went in her favour and the tax demand was removed
๐ก What changed now
๐ This case was before 2023 when there was no exemption cap
๐ Now Section 54F exemption is limited to โน10 crore
๐ Smart reinvestment planning can still reduce large ...