Section 54 Capital Gains Exemption

Tax Glossary Definition

Section 54 Capital Gains Exemption

This provision allows taxpayers to claim relief from long-term capital gains tax when the proceeds from selling a residential property are used to purchase or construct another residential house within the prescribed time limits.

Example: If an individual earns ₹30 lakh as long-term capital gain from selling a house and invests that amount in a new home within two years, the capital gain becomes exempt from tax under Section 54.

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