Long term gain on commercial property
Querist : Anonymous
1. As the property is jointly held by me and my wife - Can we split the Capital gain while filing tax returns?
2. Can I get tax exemption if we purchase a new residential property ?( * I have one house in my name)
3. Can I use this gain for renovation my presently owned house?
4. Any other option for tax exemption on the capital gain?
2. yes you can. under section 54.
3. no you cannot.
4. yes, you can invest under section 54ec.
Querist : Anonymous
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