Скачать или смотреть Section 54 Income Tax Act Explained: How Most Taxpayers Lose Their Capital Gains Exemption

Welcome to TaxExplained!

Selling a residential house and planning to claim capital gains exemption under Section 54 of the Income Tax Act?

Be careful. Section 54 is not automatic, and thousands of taxpayers lose the exemption due to small but fatal mistakes.

In this video, I explain Section 54 in a clear and practical manner, covering:

• Who is eligible to claim Section 54 exemption
• What qualifies as a “residential house”
• Purchase vs construction – strict time limits
• Capital Gains Account Scheme (CGAS) – when it is compulsory
• Common mistakes that lead to income tax notices
• Real-life scenarios taxpayers usually get wrong

This video is especially useful if you are:
✔ Selling a house property
✔ Planning to buy or construct another house
✔ Unsure about CGAS, booking vs purchase, or multiple properties

Watch till the end to avoid costly tax errors and unnecessary litigation.

📌 Disclaimer: This video is for educational purposes only and does not constitute professional advice.