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long term capital gain on sale of LAND


26 January 2021 I HAVE SOLD A PLOT IN JUNE 2017 HAVE CAPITAL GAIN THAT DEPOSITED WITH BANK OF INDIA IN CAPITAL DEPOSIT ACCOUNT. CAN I PURCHASEN IN JANUARY A FLOOR IN NEW BUILDING AND GET TAX EXEMPTION IN MY ITR 21-22. IS THERE ANY OPTION OTHERWISE TO EXEMPTION CAN U SUGGEST ANY EXPERT IN THIS FIELD IN DELHI HOPE EARLY REPLY

Read more at: https://www.caclubindia.com/experts/investment-of-long-term-capital-gain-on-sale-of-land-2829834.asp

26 January 2021 No you can't do so. As per Sec 54F you have to purchase the new property within 2 years from date of sale.



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