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Capital Gain query
Hi Friends, Please Suggest what are the possible measures or ways to save Long Term Capital Gain arises from Joint Venture agreement with Developer/Promotor. Promotor have given two flats against land. The development agreement made in 2007. Plz help.
Replies (1)
Not stated clearly in law, but in my opinion, assessee should be eligible for exemption u/s 54F if-
1. Assessee does not own more than one other house property &
2. Sufficient modifications are made to treat two flats as single residential house.
1. Assessee does not own more than one other house property &
2. Sufficient modifications are made to treat two flats as single residential house.
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