Ltcg - tax saving on investment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2016
Can an assessee avail benefit by investing part of capital gain in a residential house under sec 54 and balance of capital gain in Tax Saving bonds under sec 54EC? For example, if LTCG on sale of residential house is 1.5 crore and he buys another residential house for 1 crore and invests 50 lakhs in REC bonds, will he get full exemption of 1.5 crore?
02 June 2016
Yes, you can claim exemption partly investing on house / or bonds. To claim on house you should not own more than one house to avail exemption.
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