I am a CA Inter Student and started the chapter of Capital Gain
I learnt that if the assessee's LTCG is upto 2 Crore then he can purchase 2 Residential House Property and can claim exemption (Amendment by Finance Act 2019). I just wanted to clarify that suppose the LTCG = 1 Crore 50 Lakh (Less than 2 Crore) and he purchases a House of 50 Lakh and deposit the rest (1 Crore) in CGAS A/c before Return Filing. Can he claim exemption for that 1 Crore also saying that he will purchase another house next year ?
Thank You!!
CAclubindia
