Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 March 2015
I am an assessee, having more than one residential property in INDIA. i want to sell one of the property and invest in NEW Property.
So can I eligible for exemption under section 54 for Capital Gain.
Emergency, Please Reply.
Thank u.
So can I eligible for exemption under section 54 for Capital Gain.
Emergency, Please Reply.
Thank u.
10 March 2015
Even if you are holding more than one residential properties you can avail the benefit of section 54.
Assuming that gain arising from the property being sold is long term capital gain you can reinvest capital gain into a new residential property and avail the benefit of section 54.
Assuming that gain arising from the property being sold is long term capital gain you can reinvest capital gain into a new residential property and avail the benefit of section 54.
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