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Capital gain on compulsory acquisition of house property

Tax queries 649 views 2 replies

Dear Experts

One of our client had a house property which was compulsorily acquired by the govt. Now there is a long term capital gain of Rs. 10 lacs.

Can we invest the long term capital gain in another house property and claim exemption u/s 54 of Rs. 10 lacs?

Can we invest the long term capital gain in any other asset to avail exemption under any other section?

What will be the tax treatment?

Replies (2)

Yes, you can claim exemption U/S 54...

or can claim Exemption U/S 54 EC in NHAI/RECL within 6 months...

Before filling the return


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