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 54 of the Income Tax Act 1961?
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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 54 of the Income Tax Act 1961?
Old Query - New Comments are closed.
The provisions of Section 54 as stood today allows exemption only for "one residential house in India". However, prior 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 so on. Therefore, a detailed analysis of the factual position would help you to solve this issue.
Old Query - New Comments are closed.