09 May 2018
I have two residential house x and y.out of which one "y" was purchased by me in year 2005 for 5 lacs.now this "y" property is sold for 56 lacs in year 2018.how can I save my long term capital gain tax..as already I have one residential house "x"..what are options available to save tax
09 May 2018
They are wrong you can get exemption u/s 54. The condition is buying not more than one house out of the capital gain to claim exemption. No limitation for holding more than one house.