Exemption on long term capital gain tax due to house sale
This query is : Resolved
Hari Kishana
(Querist)
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.?. .
How much money need to be deposited in LTCG account , Equal to LTCG (after taking indexation) or actual sale value of the old house.?. .
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.
Accordingly in capital gains account also, a sum equal to LTCG should be deposited.
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