If someone sale the house built on his abadi land, then how can he save tax on the amount received from it?
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178136 Points)
Replied 28 December 2022
By purchase of any house property as specified u/s. 54 of IT act....
Or by purchase of capital gains bond as specified u/s. 54EC of the act..
Harikrishna Agrawal
(6 Points)
Replied 28 December 2022
Will the money spent to build that house be exempt?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178136 Points)
Replied 28 December 2022
Money spent to build any new house property will exempt the LTCG of the present house sold.
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