Whether Long Term Capital Gain (LTCG) from sale of a single house can be utilised for purchasing two adjacent flats in a society ?
As per Section 54(2), if a person already owns another property at the time of purchasing the flat using capital gain then benefits under section 54 are not applicable. Whether buying two adjacent flats violetes the provisions rebate under section 54 ?
Yes, you can purchase two house property and also can adjust your long term capital gain. Section 54 says invest in house property, it means any number of property not a single property.
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