Assessee sold long term residential house property. LTCG came. Long term gain exemption purpose, he invested entire capital gain in two flats in apartments. under section 54 LTCG exemption available.
My doubt is while filing income tax return investment cost asking. What value taken for Claiming exemption under section 54.
Amount spent on one flat like this
a)house property registration document value is 59,00,000
b)Registration charges 4,48,000
c) interiors cost as per work order 14,58,750
d) Corpus fund 82,000
Total spent is 78,88,750
My question what value taken for Claiming exemption under section 54.
Please clarify it, thank you sir.
CAclubindia
