Capital gains
This query is : Open
06 October 2017
My client sold one property for Rs.75 Lacs (Capital Gains Rs. 24 Lakhs)and wants to buy 2 properties of Rs. 50 Lakhs and Rs. 25 Lakhs. Can he claim 100% Capital Gains exemption?
Dibin Divyakumar
(Expert)
06 October 2017
Sec 54 provides that, you need to invest the Capital gain in new residential house, as you have invested more than capital gain in one house, you can claim it for sec 54. Even 1 property will be sufficient for claiming 100% exemption.
CA Rashmi Gandhi
(Expert)
06 October 2017
Yes you can claim 100% Exemption but amount of exemption cant be more than Capital Gain....
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