Capital gain- ancestral property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2015
My Client has received his Share in Ancestral Land & Building about 20 Years Back, Now Plans to Sell it at About Rs 100 Lacs+, What will be treatment in Capital Gain, If he invest in Purchase/Construction of Other Building, Whether he will be entitled for any Exemption, Whether Indexed Cost Benefit will be available to him?
15 November 2015
He is entitled for exemption u/s 54 and 54F for purchase/construction of residential building. Indexed cost benefit will be available.
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