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long term Capita gains tax exemption if used for building house in my other land.

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10 Points Posted on 03 January 2019
if got long term capital gain by selling house. Before selling house itself started building house in my other other plot. Will I get capital gain tax exemption. If yes, then how.?
If no ,why not?
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On 03 January 2019 at 12:17 Report
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Team Lead
7558 Points Posted on 03 January 2019
if the plot is in your name then definitely you can claim exemption under section 54. but the construction needs to be completed before 2yrs from date of transfer
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On 03 January 2019 at 15:49
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student
600 Points Posted on 03 January 2019
you can claim the LTCG
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On 03 January 2019 at 16:37
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12244 Points Posted on 03 January 2019
though there are lot of case laws in your favor, but as per provisions of section 54, only property purchased one year before the date of sale is eligible for deduction under 54
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On 03 January 2019 at 21:18


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