Mr X Sold two residential property in 2023-24 & capital gain from two property are following:
house 1 - 45 Lakhs
house 2 - 20 Lakhs
Now, he has purchased the new residential property for Rs 60 lakhs in 2023-24.
How to claim the benefit of exemption u/s 54 of Income tax act in this case?
Can he claim exemption u/s 54 for both property. ?
Yes, eligible to claim up to Rs. 60 lakhs u/s. 54 IT act.
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