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Capital gains

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 March 2016 I already have two residential properties in my name. Now I have sold another property and bought a third residential property. Am I eligible to claim benefit under section 54 with respect to the capital gains or I have to pay tax on the entire amount accruing to me.? Can I reduce the tax liability by purchase of some bonds? Please advise.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
10 March 2016 You can make use of Sec 54EC NHAI or REC bonds but you must invest ful capital gains in this bond within 6 months from date of transfer of old capital asset which should be only long term capital asset.
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Querist : Anonymous

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Querist : Anonymous (Querist)
10 March 2016 Can you please clarify if already owning two houses will be disqualification for claiming LTCG benefits in this case.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
10 March 2016 http://www.charteredclub.com/section-54/

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