06 October 2017
My client sold one property for Rs.75 Lacs (Capital Gains Rs. 24 Lakhs)and wants to buy 2 properties of Rs. 50 Lakhs and Rs. 25 Lakhs. Can he claim 100% Capital Gains exemption?
06 October 2017
Sec 54 provides that, you need to invest the Capital gain in new residential house, as you have invested more than capital gain in one house, you can claim it for sec 54. Even 1 property will be sufficient for claiming 100% exemption.
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