Sanskriti sold one residential house property and invested the Capital Gains in two residential houses. She got entire Capital Gains exempted u/s 54. Later on she sold one of the two houses. And again invested the Capital Gains of ₹ 70,00,000 in two residential house of ₹ 42,00,000 and ₹ 20,00,000. Calculate the exemption available to Sanskriti u/s 54 during the Assessment year 2020-21.
A. 70,00,000
B. 42,00,000
C. 62,00,000
D. Nil
Answer:B
Sanskriti sold one residential house property and invested the Capital Gains in two residential houses. She got entire Capital Gains exempted u/s 54. Later on she sold one of the two houses. And again invested the Capital Gains of ₹ 70,00,000 in two residential house of ₹ 42,00,000 and ₹ 20,00,000. Calculate the exemption available to Sanskriti u/s 54 during the Assessment year 2020-21.
A. 70,00,000 B. 42,00,000 C. 62,00,000 D. Nil