Hi..I have four residential properties out of which three have been let out and one has been used for residence purpose. Now I have sold my all four properties and I have purchased a new residential house property. Suggest me how I get benefit of exemption from capital gains.
Exemption will be avalable u/s 54. Full amount paid towards purchase of new property will be eligible for exemption against the gain provided the gain on slae of the properties was long term i. e. held for more than 3 years.
Gowra Ventures Pvt Ltd
Hyderabad
CA
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Arvindkumar Maniar & Co.
Rajkot
CA
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