28 March 2023
How to avail exemption of LTCG tax :
The assessee wants to sell 5 years old mutual fund from which the gain would be approximately 7 lacs. He is already having one house property and now he intends to buy another property out of sell amount of mutual fund.
Can he save LTCG in above by purchasing the second house property ? Kindly guide
28 March 2023
Yes, it is allowed. The exemption is allowed if you 'do not have more than one house property other than the one being purchased.' It means for purchase of SECOND House property exemption u/s. 54F can be claimed.
CAclubindia
