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Interim Budget 2019: You can invest capital gains in two houses to save tax

FM Piyush Goyal proposed changes to Sec 54 of Income Tax Act with a caveat capping capital gains to Rs 2 crore; until now, a taxpayer was given relief only on one house

Topics
Long-term Capital Gains  |  Tax Benefit  |  Capital Gains

Tinesh Bhasin 

As a proportion of the annual target of Rs 11.5 trillion, the actual collection is 64.7 per cent of direct tax
Representative Image (Photo courtesy: Wikipedia)

If a father sells a big house to buy two smaller ones for his children, until now, he could claim on only one of the two properties. Under Section 54 of the Income-Tax Act, (LTCG) benefit could be availed only on one residential property located in India.

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First Published: Fri, February 01 2019. 16:20 IST