Capital gains
This query is : Resolved
12 April 2012
If a assessee sells residential flat in delhi and makes a long term capital gain and invest the capital gain in purchase of a property jointly with his/her daughter, whether the capital gain exemption is available or not, if availabe kindly give me the section and rule.
12 April 2012
Yes, Exemption is available if such property is residential property and is purhcased within time limits specified in Sec 54 of Income tax act.
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