Exemption on long term capital gain tax due to house sale

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Hari Kishana (Querist)
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19 April 2016 To get the exemption under Sec 54, the purchase value of the new house should be more then LTCG(after taking indexation) or the actual sale value of the old house?.

How much money need to be deposited in LTCG account , Equal to LTCG (after taking indexation) or actual sale value of the old house.?. .

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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19 April 2016 Exemption under section 54 requires investment should be equal to or more than LTCG, it it is less than LTCG than exemption will be available only to the extent of amount invested.
Accordingly in capital gains account also, a sum equal to LTCG should be deposited.

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