Explained: Income tax implications on the sale of residential property
The exemption in respect of long-term capital gains on the sale of a residential house held for 2 years or more can be claimed if the indexed long-term capital gains are invested for the purchase of another residential house within two years from the sale of the original property.
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The exemption in respect of long-term capital gains on the sale of a residential house held for 2 years or more can be claimed if the indexed long-term capital gains are invested for the purchase of another residential house within two years from the sale of the original property.
