hi everybodY,
An NRI has sold house property in india.now he wants to invest the sale consideration to purchase anew house property in USA.Will he be eligible for the exemption u/s 54 of capital gains for the amount invested in america.
thanks
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exemption from capital gains
Replies (1)
yes U can claim exemption under sec 54 as it doesn't specify the place where u can invest for residential property.However it should be kept in mind that house purchased earlier should be held for a 3 years
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