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Asked by Pankaj on :Jun. 21, 2018

I sold the my residential house last month. In or…

I sold the my residential house last month. In order to avoid capital gain tax, what are the condit…

I sold the my residential house last month. In order to avoid capital gain tax, what are the conditions for claiming exemption u/s 54 ?

0

Jeeba Jun. 21, 2018

Long-term capital gain arising to the individual or HUF on the sale of residential house property shall be exempt from tax upto the investment made subject to the following conditions.

Investment has to be made in another residential house within 1 year before or 2 years after the date of transfer. Or

Construction of the house property should be completed within 3 years from the date of transfer.

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