20 August 2015
I HAVE SOLD ONE LAND & FROM SALE I HAVE LTCG OF RS.5500000/-. IS THERE ANY POSIBILITIES TO INVEST THIS AMOUNT FOR TAX BENEFIT ? I HAVE ALREADY ONE RESIDENCIAL HOUSE...
20 August 2015
Within a period of I year before or 2 years after the date of transfer, a residential house should be purchased or constructed within a period of 3 years after the date of transfer.
The assessee should not within a period of one year purchase or should not within a period of 3 years construct any residential house other than the new asset.
If the cost of the new residential house is not less than the net consideration then the whole of the capital gain. Otherwise, Ami. invested ITCG —————– :— —- Net consideration price
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