Capital gain
This query is : Resolved
ASHWIN KUMAR
(Querist)
01 August 2014
1. capital gain money out of sale of residential house can be invested in land and claimed exemption...?
2. on the same land latter house can be constructed within 3 years... so then can we claim entire exemption of amount invested in land.... (entire investment on land nullify the capital gain money)
2. on the same land latter house can be constructed within 3 years... so then can we claim entire exemption of amount invested in land.... (entire investment on land nullify the capital gain money)
Nikhil Kaushik
(Expert)
02 August 2014
the exemption shall be available if the construction is done on the land. if the land is left vacant, then no exemption shall be available
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