Sold 2 houses to invest in new one? You can get tax benefits

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), in its recent order, has clarified that when a taxpayer sells two residential properties and re-invests in one residential house, he or she is entitled to tax benefit under section 54. This ruling will be very helpful to several individuals. With work from home here to stay for longer than initially anticipated, several families are in search of larger flats.

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