Emption from capital gain
This query is : Resolved
14 May 2012
Sir,
If I have a capital gain of Rs. 25,00,000 from sale of residential house property and I invest Rs. 20 lac in a residential house and Rs 30,00,000 in a commmercial property how will i get the benefit under Sec 54 ? Please help
If I have a capital gain of Rs. 25,00,000 from sale of residential house property and I invest Rs. 20 lac in a residential house and Rs 30,00,000 in a commmercial property how will i get the benefit under Sec 54 ? Please help
14 May 2012
u/s 54 you will get deduction of 20 lakh leaving behind net capital gain of 5 lakh. Now you need to decide whether to pay tax or opt for any other deduction like 54EC
14 June 2012
Thanks sir
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