All About Capital Gains Exemption u/s 54 : A video Tutorial

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Capital gains exemption u/s  54 provides relief to a tax payer who gets gains on account of sale of residential house which was held for more than 36 months. The tax exemption  u/s 54 is allowed  on long term gains on sale of residential house up to the extent gains  same is utilised for buying house within 2 years from the date of transfer of sold assets or constructing the house within three years from the date of transfer of sold assets . It has been held that it is not necessary for a tax payer  to spend on new residential house the same money which he got out of sale or the tax payer just needs to buy a house within specified period , no matter, from where the money has come.

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