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?
CAclubindia
