Cap Gain Exemption for Construction of Newly purchased Flat

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  1. Chitra123

    Chitra123 New Member

    I sold my property for 2 crore and purchased a 21 year old apartment worth 80 Lakhs Which had old mosaic damaged flooring ...etc
    So I improved the apartment by doing civil work like new electrical line ... Plumbing line ... Plastering ... Water proofing for seepage issues and flooring worth 25 Lakhs now my question is I have all the bills for improving the apartment for comfortable livable condition for another 10 years ... Will I be able to deduct this amount from capital gain tax
  2. Karan Batra

    Karan Batra Well-Known Member

    Yes, you can claim exemption under Section 54 for both purchase of new flat as well as construction/repair/renovation of the new flat
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