Exemption under sec 54
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 June 2017
Got one question.
If mr A has a house on his name and gets another house as inheritance. If the inherited house is sold and all the money is used to buy another house within 6 months. Then is mr A eligible for tax exemption on the LTCG even though he had one own house and one inherited on his name ?
If mr A has a house on his name and gets another house as inheritance. If the inherited house is sold and all the money is used to buy another house within 6 months. Then is mr A eligible for tax exemption on the LTCG even though he had one own house and one inherited on his name ?
22 June 2017
Yes he will get exemption u/s 54.
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 June 2017
Thank you for prompt reply.
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