Capital gain exemption u/s 54

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shital (Querist)
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22 June 2015 My query is related to exemption u/s 54

one of my client sales her house property on 12/11/14 for sale consideration RS 502380.00
and purchased one house for RS 3900000.00
On 1/01/14 and again she sale her second house for RS 2887500.00 on 15/06/15 In this case second sale effected in different f.y. my query is can i claim exemption u/s 54 in respect of both sale consideration invested in one house but sale effected in different f.y

or shall i pay in this case capital gain tax in first sale and claim exemption in respect of second sale which is beneficial for client

please guide me in this case

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 June 2015 Only capital gain exemption available for first sale i.e. for purchase within one year of sale.

Rupesh Jain

Rupesh Jain (Expert)
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22 June 2015 you can take exemption for one house..........

shital

shital (Querist)
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27 January 2016 Thank you to both of you

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