Hello all, its my first question in the forum.
If I acquire a LTCG (above 1 Lakh) through selling of Stocks/MF, can i avail tax exemption on it, if i am using it to purachase an Apartment which is in Project Initial Stage and will be completed in 4 years. I have seen some Section 54 but not very clear on that. Say if my LTCG is 2 Lakhs, will i already get 1 lakh normal tax exemption for LTCG and only remaining need to be included for section 54 if possible. Please help me clear the doubt.
CAclubindia
