Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 July 2012
Dear Sir
I slod a residential plot in Municipal Limit please advice me for to save capital gain tax, can i purchase residential Plot?
Thanks & Regards
S. S. Fand
I slod a residential plot in Municipal Limit please advice me for to save capital gain tax, can i purchase residential Plot?
Thanks & Regards
S. S. Fand
CA PARAS BAFNA
(Expert)
15 July 2012
Only purchase of plot is not sufficient.
.
The Plot sold must have been held by you for more than 3 years.
.
You have to construct a house on the new plot within 3 yrs time from the date of sale of old plot.
.
To get full exemption you have to apply entire old plot's sales consideration.
.
.
The Plot sold must have been held by you for more than 3 years.
.
You have to construct a house on the new plot within 3 yrs time from the date of sale of old plot.
.
To get full exemption you have to apply entire old plot's sales consideration.
.
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