26 July 2012
I have a query on Capital Gain.......I had sold the property 3 years ago and deposited the amount in capital gain account. But even after 3 years i have not invested the said amount in purchasing the new property.So now it will be taxable as long term capital gain.
My question is will i get basic exemption of 1,80,000 while paying the long term capital gain which is now taxable after 3 years. If yes, is it clearly mention in any section of income tax.
CAclubindia
