Case 2: Cost of the new house acquired is more than the capital gains computed to the sale of the first house
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Taxpayers including partnership companies, LLP’s, corporations or another Affiliation or overall body are unable to declare tax exemption beneath area 54. The situations that must be contented to avail the benefit of the reported part are as follows:
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The quantity of exemption beneath Area 54 of the Money Tax Act for that extensive-time period capital gains would be the lessen of:
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If the expense of The brand new residential house is decreased than the total sale quantity, then the exemption is allowed proportionately. For your remaining volume, you may reinvest The cash underneath Section 54EC in just six months.