Taxation on sale of residence and residential plot

This discussion clarifies the Capital Gains Tax (CGT) implications for selling a house built in 2004 and a residential plot purchased in 1997. Both sales are subject to long-term CGT, with the plot's cost indexed from 2001. The user can potentially claim exemptions under Sections 54 and 54F by purchasing a new residential house within two years of the first sale, even if the new property is bought solely in their name while the previous ones were jointly owned.