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        Clause 22 - Amendment of section 54

        Finance (No. 2) Bill, 2014
        Chapter III
        DIRECT TAXES

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        Capital gains exemption limited to one residential house in India; affects reinvestment conditions post-amendment for taxpayers. The amendment limits the section 54 reinvestment exemption for long-term capital gains from sale of a residential house to purchase or construction of one residential house in India, preserving the existing purchase and construction time windows, and takes effect from 1 April 2015 for assessment year 2015-16 onwards.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Capital gains exemption limited to one residential house in India; affects reinvestment conditions post-amendment for taxpayers.

                                The amendment limits the section 54 reinvestment exemption for long-term capital gains from sale of a residential house to purchase or construction of one residential house in India, preserving the existing purchase and construction time windows, and takes effect from 1 April 2015 for assessment year 2015-16 onwards.


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