Residential Long term capital gains used in purchasing two residential flats in different locations during Financial year 2012/13

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..... Residential Long term capital gains used in purchasing two residential flats in different locations during Financial year 2012/13
Query (Issue) Started By: - Navin Thakkar Dated:- 21-10-2015 Last .....

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..... Reply Date:- 29-9-2016 Income Tax
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Income Tax
Are there any Case Laws on the Subjects? Are we eligible for deduction of costs of two properties from Long Term Capital Gains. u/s 5 .....

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..... 4 of the Income Tax Act 1961? Reply By CA Surender Gupta: The Reply: The provisions of Section 54 as stood today allows exemption only for "one residential house in India". However, prior .....

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..... to Assessment year 2015-16, the exemption was available for "a residential house". There are various case laws where exemption was allowed treating two joint property as single property and .....

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..... so on. Therefore, a detailed analysis of the factual position would help you to solve this issue.
Discussion Forum - Knowledge Sharing .....

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