Capital Gain Exemption if you own more than one house ? Difference in 54 & 54 F
Автор: CA Rahul Agarwal
Загружено: 2024-07-11
Просмотров: 2835
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Section 54F of the Income Tax Act states that :
An individual or Hindu Undivided Families (HUF) can claim a capital gains exemption by investing in residential house property.
The exemption is applicable for the sale of any long-term capital asset other than a residential house.
The taxpayer should not own more than one house.
The new residential house property must be purchased within one year before or two years after the date of transfer or constructed within three years from the date of transfer.
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