LTCG exemption under Section 54
1 year ago
I purchased a residential plot 8 months back to construct a house using the funds I borrowed from my husband. Now i sold a residential house owned by me and this sale brings L.T.capital gains. If I return the money to my husband from part of that capital gain, will it be considered as the exemption which is provided in section 54? (buy a property 1 year before or within 2 years after the sale)
I plan to use the rest of the Capital Gain in the construction which i had already started 2 months back.
A.Dear Madam,
Your question will be answered by chartered account or auditor as it pertains to income tax related matter.
Your question will be answered by chartered account or auditor as it pertains to income tax related matter.
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