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Dear sirs,I have one house property in Delhi wh...

Dear sirs,I have one house property in Delhi which I had purchased in Rs. 30 lacs 10 years back. ...

Dear sirs,

I have one house property in Delhi which I had purchased in Rs. 30 lacs 10 years back. I am planning to sell it in May 2019. From the capital gain two residential houses. Do I get exemption on investment made in both the house?

0
Jeeba Feb. 05, 2019

Long term capital gain from the sale of residential property is exempted from tax, if the gain from such sale is invested on purchase/construction of another residential house property.


The interim budget 2019 has purposed to increase the exemption for investment made in two residential houses if your capital gain amount is not more than Rs. 2 crore rupees.


This option is available once in a lifetime. So if you exercise this option, you can not exercise this option later. It means you can buy two residential property from your capital gain if it does not exceed 2 crore for once in life time.

Dear sirs,

I have one house property in Delhi which I had purchased in Rs. 30 lacs 10 years back. I am planning to sell it in May 2019. From the capital gain two residential houses. Do I get exemption on investment made in both the house?

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