Fascination About 54 cash
Fascination About 54 cash
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In the event the assessee purchases or constructs a completely new residence within the prescribed closing date immediately after selling the outdated house house, which is a protracted-phrase capital asset, he or she can declare an exemption under Segment fifty four.
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If The brand new property is offered within 3 decades in the date of buy or design, then the exemption claimed earlier under part 54 shall be indirectly taxable inside the 12 months of sale of the new property residence.
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