Capital Gains u/s 54
This query is : Resolved
kuntal dave
(Querist)
08 August 2009
If an assessee sells residential house and invests the entire capital gains in another residential house which is co-owned with a family member then is the capital gains arising on such transfer exempt u/s 54
CA Gangadhar Mishra
(Expert)
08 August 2009
yes,investment is to be made in another residential house to the extent of the capital gain to avail exemptions U/S 54
kuntal dave
(Querist)
08 August 2009
thanx a lot!!!!
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