Investment to Save LTCG u/s54 Can Disproportionate?

by Roop
(UP)

Q. We are three brothers . We just sold our old house for Rs.55,00,000/- . The LTCG calculated thereon is about Rs.42,00,000/-. Now we want to construct a new house.

Our question is whether we have to invest in equal proportion i.e. Rs.14 lacs each or can invest in odd ratio i.e.10 lacs,18 lacs & 14 lacs for the construction of new house to save the LTCG u/s 54 of the I T Act?

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