Mr X Sold two residential property in 2023-24 & capital gain from two property are following:
house 1 - 45 Lakhs
house 2 - 20 Lakhs
Now, he has purchased the new residential property for Rs 60 lakhs in 2023-24.
How to claim the benefit of exemption u/s 54 of Income tax act in this case?
Can he claim exemption u/s 54 for both property. ?
Menu
Capital Gain for two residential property under section 54
Replies (1)
Yes, eligible to claim up to Rs. 60 lakhs u/s. 54 IT act.
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
