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If The brand new home is offered in 3 several years through the day of invest in or construction, then the exemption claimed earlier less than portion 54 shall be indirectly taxable in the calendar year of sale of The brand new residence house.
In easy text, it's only the financial gain attained by the person on sale of your house that is taxable. Earnings is definitely the distinction between the sale value and the expense of the asset.
Even more, if they want to market the new home owned by them, the person need to hold the house for at least 3 decades According to area fifty four.
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The new household household needs to be in India. The seller simply cannot buy or purchase a household house overseas and assert the exemption.