TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 54: Tax Exemption on Capital Gains for Residential Property Transfers; One-Time Option for Two Houses Under 2 Crore</h1> Section 54 of the Income Tax Act provides an exemption on capital gains from the transfer of a residential property. This applies to individuals or Hindu Undivided Families (HUF) dealing with long-term capital assets. If the capital gain exceeds 2 crore, the assessee can purchase or construct one residential house in India within specified timeframes. For gains not exceeding 2 crore, they can opt for two houses. The exemption is capped at 10 crore. A Capital Gain Deposit Scheme is available for deferred investments. If the new asset is sold within three years, the exemption is adjusted. The two-house benefit is a one-time option.
TaxTMI 
TaxTMI 
