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Capital gains re investment

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(Querist)
12 May 2022 i had sold my land Rs 61 Lac out which capital gains Rs 40 Lac
Shall i re invest for Rs 60 Lac or 40 Lac for get benefit of tax?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 May 2022 You have to invest 61 lacs.
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CA Puja Sharma

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CA Puja Sharma (Expert)
12 May 2022 You have to invest the entire sale proceeds of Rs. 61 Lacs.



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FOUNTAIN HEAD PVT LTD

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FOUNTAIN HEAD PVT LTD (Querist)
12 May 2022 but my capital gains rs. 40 lac . so my taxable income also 40 lac. so why it is necessary for investment Rs 61 lac.
in the 61 lac purchase price also included.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 May 2022 In case of sale of land section 54F applicable. As per the provisions net sale consideration has to be invested.

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