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Capital gain exemption on sale of house
Assessee sold his house in FY 2022-23.. Invested the sale proceeds completely of 40 Lakhs in construction of house (Land owned by son in law)..Can LTCG exemption be claimed under section 54 by assessee ?
Replies (3)
Yes, provided he has NOC to use the land for his house construction and stay, from his SIL.
Thank you Sir
Most welcome.
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