Exemption under section 54 applies in case of Long term capital gain from residential house transfer. What would be the period of holding for assessment year 2018-2019. Given that period of holding for immovable property is changed from 3 years to 2 years for it to be taken as long term capital gain.
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Section 54 of income tax
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" What would be the period of holding for assessment year 2018-2019?"
TWO YEARS... or more holding period for assessment as 'Long Term'.
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