Exemption on construction of house – Whether allowed in respect of amount spent before or after sale of asset?

Section 54 of the Income-tax Act, 1961 (“Act”) provides exemption from long-term capital gains arising to a specified assessee on the transfer of a long-term capital asset upon construction of a residential house.Section 54 of the Income-tax Act, 1961 (“Act”) provides exemption from long-term capital gains arising to a specified assessee on the transfer of a long-term capital asset upon construction of a residential house.taxmann.com Latest ArticlesRead More

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