A residential house is sold for ₹ 90 lakh and the long term capital gains computed are ₹ 50 lakh. The assessee bought two residential houses for ₹ 30 lakh and ₹ 20 lakh respectively. The amount eligible for exemption u/s 54 would be-………………..
A. ₹ 50 lakh
B. ₹ 20 lakh
C. ₹ 30 lakh
D. Nil
Answer:A
A residential house is sold for ₹ 90 lakh and the long term capital gains computed are ₹ 50 lakh. The assessee bought two residential houses for ₹ 30 lakh and ₹ 20 lakh respectively. The amount eligible for exemption u/s 54 would be-………………..
A. ₹ 50 lakh B. ₹ 20 lakh C. ₹ 30 lakh D. Nil