Exemption on capital gain tax

Affter 3 years of holding pweriod  if her capital gain is more than the land+house and  house she purchased the  excess will be taxed as Long Term Capital Gains tax even if she invests  in house poroperty for self occupation. She wil be lialble to 20% long /Term  capital Gains Tax at the rate o f20%.If th new house is more than the capital gain or equal to the capital gain she will be exempt from long term capital gains tax.The house  she xconstructed using the land starting from the date of purchase of land  till she completed constructiuon in 2013 should have been completed in  3years. Otherwise she would be liable to short term capitalgains tax.As expalined above if your capitl gains are in excess of the cost of land and house unless they invest in section 54 Rural Electrification bonds or construction or purchase of a new residntial house for self occupation or investing in a capital gain schme in  public sector bank you will be liable  to Long term capitl gains tax.I'm giving  a green signal to you to start constructing a new residential house as soon as possible.If you appreciate this answer   please give me all my  profile likes.

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