Capital gain -long term One Individual sold his vacant residential housing plot . He invested the remaining amount after the Long term capital gain amount in REC BONDS. SALE VALUE : RS.50,00,000 INDEXED COST : Rs. 10,00,000 LONG TERM CAPITAL GAIN : Rs 40,00,000 invested in capital gain Bond , say REC ; Rs.40,00,000 Whether he will get capital gain tax fully exempted , under what section of I.T? or how much amount of capital gain tax to paid?
C.A. K PALANIAPPAN
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