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?
Yes, you can claim exemption U/S 54...
or can claim Exemption U/S 54 EC in NHAI/RECL within 6 months...
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