Not known Details About 54 cash
Not known Details About 54 cash
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Mr. Cash was amongst many individuals who died on the unusually occupied mountain this 7 days. Anjali Kulkarni, 54, also died even though leaving the summit with her partner on Wednesday.
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If the assessee purchases or constructs a fresh dwelling inside the prescribed cut-off date immediately after selling the outdated household house, which happens to be a long-term capital asset, she or he can assert an exemption under Section 54.
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This exemption will be reversed in the event you offer this new assets inside of three years of its obtain or design OR if you purchase A different household home within two a long time of the sale of the original asset or build a household dwelling apart from The brand new dwelling within just 3 a long time from the sale of the first asset. Cash gains in the sale will probably be taxed as long-term capital gains.
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The brand new household house needs to be in India. The seller are unable to acquire or buy a household dwelling overseas and claim the exemption.