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Long term capital gain exemption

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(Querist)
10 June 2020 as per section 54F of income tax, exemption can availe on already owned house property improvement (re constuct Additional Space in owned house property)
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Punit Gupta

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Punit Gupta (Expert)
10 June 2020 As per the provisions under Sec 54F, construction of one residential house in India, referred to as the new asset in the act shall be eligible for the claiming benefits under this section.
Merely reconstruction or improvement will not fall under this definition and shall not be claimed as benefit under this section.
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