Long term capital gain
This query is : Resolved
24 November 2011
My friend has two residential properties out of which one is self occupied and the other one is let out. Now he is planning to sell off the property which is let out. In this scenario can he invest in capital exemption bond to the extent of capital gain to save the tax? Is there any other solution to save the tax ?
24 November 2011
Refer to Sec 54 and Sec 54EC of income tax act. Assessee can claim exemption under these two sections subject to the fulfillment of conditions mentioned therein.
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