Capital gain benefit in budget 2019-20 for sales of residential house property

The budget 2019-20 big helpful for tax saving on sale of residential house property under section 54 of Income tax Act, 1961.

The taxpayer purchase the two residential houses property and avail the maximum tax exemption up to 2 Cr and this benefit would be availed once in a life time.

Let we have see how to help reduce the tax in capital gain tax for proposed amendment FY 2019-20.

Present Budget FY 2018-19
Particulars	Amount in INR.
Sale consideration value	2,00,00,000.00
Less: Index cost of Acquisition of property	(70,00,000.00)
Gross taxable Capital Gains	1,30,00,000.00
Less: Exemption u/s 54 New House1: 80,00,000 New House2: Not Applicable for this year and invest one  residential house property only	(80,00,000.00)
Capital Gain Chargeable to Tax	50,00,000.00

Proposed Budget FY 2019-20 (effect from 01.04.2019)
Particulars	Amount in INR.
Sale Proceeds	2,00,00,000.00
Less: Index cost of Acquisition	(70,00,000.00)
Capital Gains	1,30,00,000.00
Less: Exemption u/s 54 New House1: 80,00,000 New House2: 50,00,000	(1,30,00,000.00)
Capital Gain Chargeable to Tax	NIL