Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2013 hi
can i buy multiple property (2or3 flats, of a plot and flat, ets) after selling my house.
i dont have any other property in my name

also if the amount deposited in Cap Gain Gaving A/C is not utilised 3 yrs after deposit is that amt taxable or that amt is tax free?

thanks
harshal
8928543484

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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16 June 2013 No one will deny you to purchase all whatever you desire.
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You are required to invest your capital gains in one residential house or a single residential unit (if the multiple flats are purchased). To the extent -Capital Gains will be exempt.
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Still the money is left- you are allowed to purchase any other property of your choice.
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The unutilised money in Capital gains Savings account will be taxable as LTCG in the year in which the time limit gets over.
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