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Capital gain exemption on sale of house

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Manager of Accounts
165 Points Posted on 24 July 2023
Assessee sold his house in FY 2022-23.. Invested the sale proceeds completely of 40 Lakhs in construction of house (Land owned by son in law)..Can LTCG exemption be claimed under section 54 by assessee ?
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On 24 July 2023 at 14:23 Report
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SEO Sai Gr. Hosp.
211582 Points Posted on 24 July 2023

Yes, provided he has NOC to use the land for his house construction and stay, from his SIL.

581 Reply
On 24 July 2023 at 15:03
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Manager of Accounts
165 Points Posted on 24 July 2023
Thank you Sir
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On 24 July 2023 at 15:16
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SEO Sai Gr. Hosp.
211582 Points Posted on 24 July 2023

Most welcome.                   

581 Reply
On 24 July 2023 at 15:29


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