https://www.taxtmi.com/article/detailed?id=1314 Exemption for reinvested long term capital gains is available only to Individual and HUF taxpayers when the net sale proceeds of a non residential long term capital asset are invested in purchasing or constructing a residential house (not a plot), acquired in the assessee's name within prescribed time limits. Full exemption requires reinvestment of the entire net sale consideration; partial reinvestment yields proportionate exemption. Ownership of more than one taxable house on the transfer date negates the exemption, and borrowed funds used for purchase are accounted for so exemption relates to the portion funded by sale proceeds. en-us Thu, 02 Jun 2011 07:07:53 +0530 Fri, 22 Aug 2025 23:13:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1314 Exemption for reinvested long term capital gains is available only to Individual and HUF taxpayers when the net sale proceeds of a non residential long term capital asset are invested in purchasing or constructing a residential house (not a plot), acquired in the assessee's name within prescribed time limits. Full exemption requires reinvestment of the entire net sale consideration; partial reinvestment yields proportionate exemption. Ownership of more than one taxable house on the transfer date negates the exemption, and borrowed funds used for purchase are accounted for so exemption relates to the portion funded by sale proceeds. Articles Income Tax Thu, 02 Jun 2011 07:07:53 +0530 https://www.taxtmi.com/article/detailed?id=1314