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exemption of capital gain on the earlier piece of land
by vk seth on Jun 26, 2011 02:41 PM

sir,
A person has a house puchased 40 years ago and after demolishing it,construct 3 floors and sold 3rd floor immediately. Can he claim benefit of long term earned on the land as investment toward construction for the remainig floors which will remain with him ?

Thanks,

u.s

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