In case the assessee purchases or constructs a fresh home inside the prescribed time limit soon after advertising the outdated dwelling assets, and that is a lengthy-phrase money asset, she or he can assert an exemption under Section fifty four.
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Public Report – This is often details that is gotten from federal, point out or other sources which facts somebody’s background of economic obligations which incorporates little one assist and alimony.
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However, the exemption is subject to the cash get not exceeding Rs two crore. Also, the exemption is obtainable just once from the life time of the seller.
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Personal bankruptcy – That is a authorized continuing in America’s Federal Court which in entered here into by a borrower. This is commonly somebody who is not able to pay back again his debts which allows for them to barter some kind of partial payment or even the selling of the borrower’s belongings. Personal bankruptcy info will stay to the credit score record of someone for as much as a decade.