If an assessee has sold 2 separate capital assets in an year, can he claim an exemption of 1cr (50L+50L)?
Prior to budget 2014, it was capped at 50L in a previous year but now it states that 50L is irrespective of financial year!
" If an assessee has sold 2 separate capital assets in an year, can he claim an exemption of 1cr (50L+50L)?"
NO.
"Prior to budget 2014, it was capped at 50L in a previous year but now it states that 50L is irrespective of financial year!"
CORRECT
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