Const. of House from Amt received from Ancestral Property

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  1. I have Received Rs 20 Lacs from sale of ancestral property. To save Long term capital gain tax I want to construct house on a land which is in name of my wife. Please tell me whether I will be entitled for exemption under section 54.
     
  2. rudrabose

    rudrabose Active Member

    Yes, you can claim exemption if the amount received is re-invested in constructing a house on a plot
     
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