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Now avail capital gain exemption for investment in two houses

Section 54 exempts any long-term capital gain (LTCG), arising to an individual or HUF, from the sale of residential house property to the extent such capital gain is invested in another residential house property. Currently the exemption is available only for investment made in one residential house in India. The Finance Bill, 2019 has proposed to extend the exemption for investment made, by way of purchase or construction, in two residential houses provided the amount of capital gains does not exceed Rs 2 crore. However the assessee can exercise this option only once in a lifetime.

Read More at The Financial Express News date : 2 Feb 2019, Saturday

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