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Business
Tax Dept Issues Notice to Mumbai Woman Over Juhu Property Exemption Claim
✍️ Times of India
🗓 24 Sep 2026, 11:59 PM
👁 9
A Mumbai woman who sold unlisted shares and reported long-term capital gains of ₹8.31 crore invested ₹6.91 crore in a residential property on Juhu Tara Road in June 2021, claiming exemption under Section 54F. The Income Tax Department has issued a notice questioning her claim.
The woman sold her unlisted shares and declared long-term capital gains of ₹8.31 crore in her tax filing.
She then invested ₹6.91 crore of that amount in a residential property located on Juhu Tara Road, Mumbai, in June 2021, and claimed exemption under Section 54F of the Income Tax Act.
The Income Tax Department has served a notice to her, seeking clarification on the exemption claim and the source of funds used for the property purchase.
She then invested ₹6.91 crore of that amount in a residential property located on Juhu Tara Road, Mumbai, in June 2021, and claimed exemption under Section 54F of the Income Tax Act.
The Income Tax Department has served a notice to her, seeking clarification on the exemption claim and the source of funds used for the property purchase.