Ltcg on sale of residential house
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 August 2017
Assessee is having 4 residential house and shown income from house property for all the property. In this year he is selling 2 house and retain 2 house. LTCG on sale of these two house is utilised for purchase of another 1 house in the same year. Is this LTCG eligible for exe u/s 54
K Srinivas, CMA CS
(Expert)
16 August 2017
The new residential property must not exceed one property in order to claim exemption under sec 54
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K Srinivas, CMA CS
(Expert)
16 August 2017
ltcg on sale of two property can be therefore invested in ONE residential property purchase.
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