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Long term capital gain
Assessee Sold one Residential house and Invest such amount in Residential plot.
in the same year assessee had sold his another plot of land and invested the same in construction of Residential house on the Plot purchased.
how much deduction assessee will get ?
Replies (1)
The amount invested totally for costruction of house along with the cost of the plot will be exempted u/s. 54F, (subject to complience of other conditions), out of the combined sales proceeds of both the plots sold in same year. (check for remaining amount to be deposited in CGS acc. before filling the corresponding return)
Assuming both the plots sold were held for more than 3 years.
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