Exemption u/s 54
This query is : Resolved
20 April 2013
Mr. A and mr B jointly owned a house and sold the same for 50lacs. Futher MR A invest his share (25lacs) in new residential house..
is he eligible for exemption u/s 54?
thanks in advance
is he eligible for exemption u/s 54?
thanks in advance
20 April 2013
yes only upto his share of captial gain will be exempted.
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