Capital gain- sec54 exemption
This query is : Resolved
19 October 2013
I am having a caiptal gain on house property which is registered on my name.now I had purchased a new house property which is registered with 2 owner(one of them is me).so am I eligible for whole amount of capital gain or not?????
20 October 2013
You shall be eligible to claim exemption in proportion to the money reinvested by you in the new house property. For eg: If the capital gains from the sale as Rs 20 lakhs and your reinvestment is Rs 20.1 lakhs, then you can claim the whole of exemption. (Refer section 54).
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