Section 54 exemption limited by threshold; lower of long term gains or investment in new house plus CGAS applies. The maximum exemption under Section 54 equals the lowest of: the long term capital gains amount; the 10 crores statutory threshold; and the aggregate of ... Summary
Section 54 exemption limited by threshold; lower of long term gains or investment in new house plus CGAS applies.
The maximum exemption under Section 54 equals the lowest of: the long term capital gains amount; the 10 crores statutory threshold; and the aggregate of amounts invested in a new house property plus amounts deposited in the Capital Gain Account Scheme, with the threshold first adjusted against the new house investment and the balance, if any, against deposits in the Capital Gain Account Scheme.
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