My wife has sold the land in June 2018 for 80Lakh which was purchase in 1996 for 2.5 Lakh. I have got tax free 1.5 cr after retirement and FD saving of 50L. Now we want to purchase a old house of 2 Cr on joint name and demolish and build new house for 60 Lakh. Will this cover fully LTTG of site sale.
1 Answers
Dear Sir,
Yes, it covers and LTCG can be tax-exempt.
You may kindly go through below articles :
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