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.
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