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Long term capital gain

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(Querist)
17 October 2014 I am going to sell my house property and planned to spend on my sister's higher education. May I take tax exemption on this amount?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 October 2014 unfortunately, no. You wont be able to get deduction through this mechanism.

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