Capital gains section 54
This query is : Resolved
21 August 2014
An assesee succesfully claimed long term capital gains tax exemption in asst year 2007-08 under section 54.He sold ancestrol house property and purchased a residential property.
Now in asst year 2014-15 he sold another ancestrol property which is liable for LTCG
Can he claim exemption again by purchasing another residencial property under section 54.
Thanks
Now in asst year 2014-15 he sold another ancestrol property which is liable for LTCG
Can he claim exemption again by purchasing another residencial property under section 54.
Thanks
22 August 2014
yes very much. you are eligible to claim 54 exemption.
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