Person has Sale the Residential Flat Situated in India and Buy the new Residential House Situated Outside India. Whether Benefit of Long Term Capital Gain U/s. 54 will available.
Kindly suggest applicability of Taxe under scenrio
Flat Sold for Rs. 1,00,00,000/- on 12.12.2015
Purchase same Flat on 18.10.2014 for 20,00,000/-
New Flat Purchased out of India on 16.01.2016
Whether Long Term Capital Gain can be availed?
Exemption u/s 54 will be available only when residential house property is acquired WITHIN India.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
