Capital Gains tax exemption

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  1. Unny

    Unny New Member

    In May 2014 my siblings and I sold our ancestral house property and I reinvested my entire share of the sale proceeds in another house property. Now my wife and I are planning to sell another house property which we jointly bought six years ago and we plan to reinvest the capital gains in another house property, again to be held in our joint names. Am I entitled to claim exemption from capital gains tax? Kindly clarify.
    Thank you.
  2. I.Gursahani

    I.Gursahani New Member

    Your write-up states that we have the option of paying only 10% tax, instead of 20%, on LT gains, if we do not take advantage of indexation. Please advise as to under which section of rule of the Income tax act & rules, this 10% option is admissible.
  3. rudrabose

    rudrabose Active Member


    Yes, you are entitled to Capital Gains Exemption.

    There is no maximum upper limit on the no. of times the exemption can be claimed.
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